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College sells house for $1: Four bedroom house is a great buy, but costly move

College sells house for just a $1, but costly move involved
College sells house for just a $1, but costly move involved
Courtesy of Wikimedia Commons

A college sells a house for $1, though the beautiful four bedroom home does have one pricey stipulation attached. Despite the house being a great buy, Smith College in Massachusetts is requiring that the new owners of the home pay for any and all expenses to move the house off of their property. The Christian Post reveals this Monday, June 30, 2014, that this costly catch could amount to anywhere over $70,000, and that the purchasers will also need to buy their new property in addition to the original transaction.

Wouldn’t it be great to buy a house for $1? Well, Smith College is making that bargain available for one lucky family, as they want to have a high quality, four bedroom home taken off of their hands. While they are willing to sell the house for just a buck, the school is requiring the new owners to then pay up on their end of the deal, which includes a costly move that could mean a new $70,000 in expenses.

According to a press release from News Oxy, the classic home is a veritable deal for any resident. Built back in 1860 and amounting to over 2,300 square feet, the beautiful house is cited to be in excellent condition, offers four modest bedrooms, two full bathrooms, a pair of fireplaces, and polished woodwork that any homeowner might love to enjoy. Smith College includes all of this information online while trying to sell the house, which was once used as rented apartments for college residents.

However, notes Jones Group Realtors (who is working to sell the house), there is a major catch on this home being sold for $1. Owners are required as part of the business transaction to then have to pay money to move the home to a new property, which could lead up to a potential $70,000 in costs. In addition to buying the new property, all utilities and plumbing payments still need to be paid for by the future owners.

Even with these strings attached, new homeowners in the Massachusetts area looking for a new bit of real estate — or even a new home project — might find this college sells house for $1 a perfect deal. Smith College hopes to have the house legally sold and prepared to move by early September in 2014. Would you be willing to cover the costly move for a brand new residency?