$1.75 eBay bid gets abandoned Michigan home

Chicago bidder says she will try selling apparently foreclosed property

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House sells for $1.75 on eBay
Oct. 2: In an apparent sign of the times, an abandoned Michigan home sells for $1.75 on eBay. Msnbc.com's Dara Brown reports.

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updated 2:22 p.m. ET Oct. 2, 2008

SAGINAW, Mich. - With a winning bid of just $1.75, a Chicago woman has won an auction for an abandoned home in Saginaw. Joanne Smith, 30, recently was the top bidder for the home during an auction on eBay, The Saginaw News reported. Her bid was one of eight for the home.

"I am going to try and sell it," she told the newspaper. "I don't have any plans to move to Saginaw."

Smith said she hasn't seen the property or visited Saginaw, which has been hard-hit by economic troubles in recent years.

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There's a notice on the door of the home saying a foreclosure hearing is pending, the newspaper said. She must pay about $850 in back taxes and yard cleanup costs.

The Saginaw News said it could not reach the seller, Southern Investments LLC, for comment.