Baltimore City selling properties for $1 to address vacant home crisis

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Buying a house for a buck – sounds too good to be true. Well, that’s because it is.

“The reality is you probably need closer to $150-200,000 to renovate one of these structures,” Dr. Dwanda Farmer, community economic development expert and CEO of the CED Doctor in Baltimore, said.

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That’s why the Department of Housing and Community Development (DHCD) is requiring applicants to its newly approved “Fixed Pricing Program” to provide proof they can spend at least $90,000 to renovate a home after purchasing it for just a dollar.

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