College Sells House for $1 With a Catch
A college is selling a house for $1, but with fairly expensive catch. Smith College of Northampton, Massachusetts wants a buyer to take an on-campus house off their hands for just a dollar, but they'd also have to pay costs to have it moved off the campus— that could amount to over $70,000.
The college is selling the house for $1, which would get one buyer the 2,332-square foot house built in 1860. The home has four bedrooms, and is in excellent condition, according to Smith College. It also features two full bathrooms, two fireplaces and woodworking dating back to the 1800s.
The house was originally built as rental housing for faculty members, a school official told The Daily Hampshire Gazette. However, once Smith College decided to build apartment-style housing there for students instead by 2015, they came up with a plan to remove it for free.
The house is being sold by Jones Group Realtors, who estimated that any new owner of the property would have to pay $70,000 to move the home to a new plot of land. It is unknown if that estimate takes into account permits for plumbing, gas, heating systems, electricity, water, and other necessities like Internet.
The $70,000 cost does not include a new plot of land for the home to move onto, and other sites have estimated that with all fees and costs added up, any new owner could end up paying up to $250,000.
Smith College is offering the property for removal by Sept. 1.
