Fixer-uppers for $1: Only four city properties have sold under new program

The LRA has received 15 total offers under the program. Two were not approved.

Of the 13 approved offers, three applicants withdrew theirs and two were canceled by the LRA. Two were given six-month options, and two are pending closings, according to LRA records. The other four houses went to new owners, including Houston. ย 

Those who purchase a home for $1 must stabilize the outside of the building to city code within four months; obtain an occupancy permit within 18 months; and own and occupy the house for at least three years after occupancy is permitted. If the requirements are not met, the property goes back to the LRA.


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