2859 GILLINGHAM ST Philadelphia, PA 19137

This great home in Bridesburg last sold in December of 2005 for $139,900. Look at today's HUD OWNED price of $80,000. Property, which is being sold 100% "AS IS", is just minutes from shopping, restaurants, public transportation and other conveniences. Will be available to OWNER OCCUPANTS for the first 15 days beginning, October 7th 2015 until to October 21st, 2015 at midnight. All bids are consider simultaneous for the first 10 days, meaning bids for the first 10 days are reviewed day on 11. Investors are invited to place an offer on day 16 which is October 22nd ,2015 if not sold to an owner occupant during the first 15 days. Bids opened the next business day. ALL BIDS WILL BE REVIEWED & CONSIDERED. This property is classified as IE-insured with escrow meaning FHA 203B-IE financing is available to qualified buyers and subject to buyers lender new appraisal. FHA 203K re-hab financing is available to qualified buyers. Naturally CASH and CONVENTIONAL financing are always welcomed. HUD does NOT participate in any grant programs. HUD DOES NOT pay any transfer taxes or city certificate of occupancy. This is at the buyer's expense. See attached PCR- (property condition report) inspection report. "EQUAL HOUSING OPPORTUNITY". Choose your lender carefully, if using one, as some utilities may NOT be activated for any inspections and/or appraisal. Make sure your lender is qualified to process FHA/IE INSURED WIH ESCROW loans. Great opportunity for that FIRST TIME buyer to get a semi-fixer upper at a super price. Remember, high NET bid wins. Incomplete re-hab. Needs 1st floor ceilings, cement work in basement. Great back deck. Minutes from Center City. One way street. Remember ---- INVESTORS MAY NOT GET INVOLVED UNTIL DAY 16 which is October 22,2015. Fines of up to $250,000 may be imposed. HIGH NET bid wins. All others lose. Make your highest and best bid the first time. This is NOT a short sale that will take months for an answer.