College sells house for $1 is the big news from the state of Massachusetts on this Monday morning. The Smith College in Northampton has announced that it is selling a house that was built in 1860 for $ 1. Of course people are wondering what is the catch. The buyer must pay to have the on-campus house moved to another lot. Moving the 2,332-square-foot home could cost its owner more than $70,000.
This is really a buyer’s market for Smith College is selling a former rental house for $1. Smith College has listed one of their properties for the low price of one buck.
The home that is located at 65 Paradise Road would be perfect for Kim Kardashian and Kanye West who are currently searching for a spacious piece of real estate.
So what would the buyer be getting for four quarters? Truthfully a lot.
The three-story dream home which was built in 1860 has four bedrooms, a play/office space and it’s in Massachusetts so of course there is a huge basement for storage or man cave.
What else will be getting for your buck?
How about the two full bathrooms, two beautiful fireplaces and historic woodworking on most of the floors.
By now you must be telling yourself that this offer seems to good to be true.
In a way you are right, the college will accept to sell the home under one condition, it must be relocated by September 1st.
The institution needs the spot to construct new apartment-style student housing which will be ready in early 2015.
Jones Group Realtors, the company which is handling the sale estimates that it would cost over 70k to move the home.
The buyer has to also purchase a piece of land to put the home.
The new home owner will also be spending on the construction of a foundation for the house.
The cost of various permits, connecting the plumbing, gas, heating system and electricity should also be taken into consideration.
In conclusion the home is not really for $1 more like $250k which is the price of most houses with three stories in the state, so buy one of those instead.
