Houses You Shouldn't Even Buy For $1


Selling a home should be pretty straightforward list it with a real estate agent show people around accept an offer and hand over the keys however for some houses they just can't seem to garner any interest and that's often due to massive expensive problems today we're going to look at some unsellable homes ones that have been on the market for a while yet just can't seem to find a buyer even if the property's price is heavily reduced we'll explore the one euro houses scheme in italy a mansion owned by athlete aubry lewis and more so let's get started back in 2016 numerous historic towns across italy began offering a deal that grabbed the attention of the world's media for just the cost of one euro or around one dollar and 22 cents you could own a property in this country if it sounds too good to be true it is well slightly the homes on offer for this price were very decrepit often they've been vacant for years and left to fall apart as such the new owners would need to spend a small fortune to change them into a livable abode and you had to it was part of the one euro deal depending on the location you could be fined thousands of euros if you didn't begin renovations by a certain date after the purchase often you even had to place a deposit of several thousand euros on the promise you would renovate the property italy opened this offer up to locals and foreign interests due to the fall in people living in smaller older towns across the country younger italians were preferring to up the sticks and relocate to larger cities or more modern areas leaving the historic sites too well history the region of molise during 2019 had a population of 305 000 from 2014 to 2019 9 000 people had left the area for newer ventures the region jumped on board with the one euro scheme and began offering incentives to bring interest back to their towns and villages one of which involved people being paid 700 euros or about 855 dollars per month for three years to live within melisa giving us a grand total of 25 200 euros or 30 780 over that term which would make a dent in the renovation costs however in order to qualify newcomers would need to start a business and the local population must be below 2 000 with the latter rules seemingly out of the new resident's hands according to some sources all renovation costs and extra fees can cost around 124 000 altogether far above the original one euro deal if you're interested in what the 1 euro properties look like well that's what we're for in the town of musamele in sicily sits a six-bedroom two-bathroom property on the street cortile cataba even from the outside the property has seen better days inside the building hasn't been cleaned or tidied in a very long time situated on the street via moriale in musamele is our next one euro house the one bedroom one bathroom abode also requires significant tlc it has crumbling walls and large holes in the ceiling in order to purchase a one euro home in museum la the buyers will have to pay 5 000 euros or 6 100 for a stipulation of a shorty that's valid for three years it's essentially a guarantee that the renovations would be complete in that time frame if not the town can keep the cash and take back the ownership of the house there's also a number of costs such as notary fees secretarial fees and so on that can add a further four thousand euros or four thousand nine hundred dollars this is on top of the renovation costs over in the sicilian town of troina one of their one euro properties has been nicknamed the doll house it has six bedrooms and one bathroom spread over four levels while in a slightly better state than the houses in musamele the property does seem to have a bit of water damage that will need addressing over in the borgo district of troina is the house nicknamed luigi's house lacking the green color scheme like the iconic nintendo character has the property has seven bedrooms and one bathroom across its four levels the listing mentions that the roof and the house's various systems will need to be sorted by buyers in order to revitalize their ancient town troyina officials were offering buyers a restyle bonus amounting to 15 thousand euros or eighteen thousand three hundred dollars with the promise of renovating their dilapidated abodes it was expected that this fee goes towards revitalizing the rundown home they've purchased buyers can even get a further ten thousand euros or twelve thousand two hundred dollars for energy efficiency works in 2017 a mansion built in 1906 went on the market in new jersey the median price of houses in the area at the time was 342 thousand dollars yet this 000 square foot abode was being sold for just 10 in the past its asking price was 1.35 million situated in 2.7 acres of land in montclair the house was previously owned by athlete aubry lewis who later went on to become a member of the first fbi agent training program to include black people the six bedroom three and a half bathroom mansion seemingly had it all so what was the catch that made its listing so cheap we hear you think well it all started when the montclair township planning board approved a subdivision of the land which interested developers body noel enterprises they wanted to create eight homes called the collective spread over where the mansion was sat after lobbying the board agreed to sell the house first if someone was willing to lift it up and relocate it elsewhere according to reports this could cost two hundred thousand dollars by may 2018 with no takers the mansion was demolished now the collection of houses is based there instead during june 2017 a fire broke out at the apartment block called grenfell tower in london england a large number of injuries and fatalities were sustained as a result what made this blaze worse was the type of cladding used in the tower it caused the fire to spread rapidly throughout the building afterwards this left other flat owners across the country with a problem the building that hosts their flat might have the same cladding that was used at grenfell however a large portion of the building owners refused to pay for the test to discover whether this is the case or not independent surveys can cost as much as 15 000 pounds or 21 300 u.s dollars as such people trying to sell those flats had no one looking to buy or rent from them some owners attempted to remortgage their flats yet when the lender sent around a surveyor and discovered that the cladding might be a problem their flats were valued at zero pounds over in fremont california during january of 2020 an unusual building went on the market a fire station built in 1954 the two-story building was decommissioned during 2008. at the time silicon sage builders wanted to create a mixed-use development where the station was located it would include residential properties as well as retail as part of the deal the local council agreed to sell the land as long as silicon sage tried to sell the building first the catch would be that the buyer of a fire station would have to relocate the building elsewhere due to the design of the building experts claim that this process could have cost between two hundred and fifty thousand to five hundred thousand dollars on top of that the owner would need to splash out on the land for the old fire station in order to comply silicon sage listed the property for just one dollar however if it wasn't sold within a couple of months it could be knocked down which is exactly what happened as no one was willing to splurge hundreds of thousands of dollars on relocation fees there has been success in the past of moving historic properties from one location to another during 2017 a church in oakdale california was put on the market for a symbolic one dollar built in 1893 it was purchased by realtor denise cash just moving the old church cost around forty thousand dollars after renovations the church turned house was placed on the market for four hundred and sixty nine thousand 000 final fact finish one house that struggled to sell was made famous due to appearing in the 1991 film silence of the lambs the on-screen abode of buffalo bill gathered a negative reputation when it was on the market by the superstitious after five years it was sold in february 2021 for 290 thousand dollars it's now going to be turned into a bed and breakfast.

 thanks for reading and we'll see you next time.

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