a true story from what I had seen before ...

Three years ago, I saw a house listing in San Jose, for 200K only. Even though this was deep in the fourclosure
crisis this price was still 60% lower than the comp, so I decided to go look. Turn out there are many many people
who believe this is a bargain. What happen is that this is four room house, but the laminated floor all have bad water damager. There are hole though walls and ceilings, wire dangle through out the house. Someone rented the
house from an absentee owner and was using it to grow that thing. The owner had to short sell it and cash only
since no bank will finance a house in this condition.

Moral of the story, do check your property inside anually.