2023-08-19 16:12:40
Picture of the house for sale
real estate
The house is located in Detroit, Michigan, USA
London – Arabia Net
Posted on: August 19, 2023: 04:23 PM GST Last updated: August 19, 2023: 08:25 PM GST
A remarkable house landed on the American real estate market surprisingly, as it is for sale for only one dollar, which made it the cheapest home in the world at all.
The house is located in Detroit, Michigan, and is surrounded by overgrown bushes and exotic herbs.
The house appeared on the “Zello” website, which specializes in displaying and trading real estate in the United States, and it costs only one dollar. It consists of two bedrooms, one bathroom, and an area of 742 square feet.
“Yes, you read that correctly… Unleash your inner DIY guru and accept the challenge of turning this farmhouse into a masterpiece,” wrote real estate broker Chris Hubbell, who has put the house up for sale.
He added that potential buyers will experience “a rollercoaster of emotions when you discover that every nook and cranny calls for your creative touch”.
A report published by the American network (CNBC), and viewed by Al Arabiya Net, said that the house contains many defects and needs a lot of repairs and work, as it contains a dirty bathroom and missing walls, and there is also a hole in the floor that opens to another space, and it was sold. The house was previously sold in February of last year for $4,092.
For $1, the report said, buyers will also receive a yard overgrown with weeds that invites “local critters for an impromptu garden party.”
“If you’re a visionary, a risk-taker, or simply someone who thrives on life’s small curve, this home is calling your name,” says the bidder. “Get ready for a journey full of twists and turns and lots of character. Don’t just buy a home, buy an experience.”
A picture of the house for sale
Hoebel told CNBC he’s worked with the seller before, and says getting a green light on the $1 sale price requires them to trust him.
“The whole idea behind it is, in my opinion, that a house will always find its market value if you lower the price,” he says. “But if you overprice a property, you shoot yourself in the foot.”
The CNBC report says that the strategy used by the real estate broker seems to have worked effectively, as within just three days of listing the house for sale online, it had nearly 100,000 views on the website, and more than 4,100 users saved the ad.
Hobel says that he has received nearly 200 offers for the house so far, while the highest offer he received to buy the house was $ 30,000.
“I’ve had calls from India, Asia and Britain, as well as interested people from all over the United States,” he says. “The buyers are not just investors in Pontiac, Michigan, they’re investors all over the world.”
The ad says it will continue to receive bids until Wednesday 23rd August, following which it will decide to sell to the highest bid price.
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