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.

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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