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No-Reserve Charity Auction Sells $131,000 Houston Home For Only $26.12

PennyMansion.com Kicked Off Charity Auction with 3-year-old Home

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HOUSTON, June 25, 2013 /PRNewswire/ -- PennyMansion.com, the new patent-pending online-home-auction company, today announces the winner of its first online no-reserve home auction held on June 23, 2013. Melone Isaacs, a single, 25-year-old Houston woman, purchased the 3-year-old, $131,000 Houston-area home for only $26.12.

"Prior to the auction, Ms. Isaacs thoroughly read the process and rules on our website, gaining a fair, advantageous understanding of it," says President Tommy Allen. "She is a nice, well-deserving young woman who did her homework. We are excited to hand over this beautiful home - free of any mortgages or liens – this Thursday, June 27."

Approximately 1,300 users registered prior to the auction commencement. After an hour, the clock expired milliseconds after Ms. Isaacs placed the final, victorious bid. She plans to move into the house where she hopes to raise a family.

"I hired a real estate agent last week to start house shopping," says winner Melone Isaacs. "Then I saw the PennyMansion.com flier and decided to give it a try."

A socially conscious company, PennyMansion.com donates 100 percent of home auction sales price to a charity. Proceeds from the first sale benefited the American Red Cross.

PennyMansion.com (REI Technologies, LLC) purchased the home, located at 14511 Royal Mountain Dr., Houston, TX 77090, in 2012 for $131,000, and offered it to registered users in the no-reserve auction starting at $0.01. For more information on the home please visit:  http://www.pennymansion.com/auctions/14511-Royal-Mountain-Dr-Houston-TX-77090-481723

Limit one registration per household and out-of-state buyers are welcome. For full registration terms please visit: http://www.pennymansion.com/

About Penny Mansion

PennyMansion (http://www.pennymansion.com/) was founded on the dream of affordable home ownership. As part of its mission, PennyMansion's proprietary sales platform will allow Americans to buy homes for mere pennies on the dollar. Additionally, as a socially conscious company, PennyMansion aims to enrich its communities by partnering with local charities and donating 100 percent of the home auction sale price to those charities.

SOURCE PennyMansion.com



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http://www.pennymansion.com

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