If you like weeds, overgrown shrubbery and a good deal, a Michigan home that just hit the market might be for you.
A Zillow listing for the “world’s cheapest home” posted on the real estate site this week is asking just $1 for a 2-bed, 1-bath, 742 square-foot home in Pontiac, Mich.
“Yes, you read that right,” the listing says of the single-digit asking price. “Unleash your inner DIY guru and embrace the challenge of turning this ranch into a masterpiece that will make Chip and Joanna green with envy.”
Listing agent Chris Hubel writes that prospective buyers will experience a “thrilling rollercoaster of emotions as you discover every nook and cranny that’s begging for your creative touch.”
The buyer of the $1 home will have their work cut out for them.
Chris Hubel
The run down home features a filthy bathroom, is missing walls and has a hole in the floor that opens into the crawlspace. It was previously sold in February of last year for $4,092, according to its price history.
For $1, buyers will also receive an overgrown yard full of weeds which invites “local critters for an impromptu garden party.”
“If you’re a visionary, a risk-taker, or simply someone who thrives on life’s little curveballs, this home is calling your name,” the listing reads. “Buckle up for a journey filled with twists, turns, and a whole lot of character. Don’t just buy a house—buy an experience.”
The bathroom at 70 E Ypsilanti Ave.
Chris Hubel
Hubel tells CNBC Make It that he has worked with the seller before, and says that getting a green light on the $1 listing price required them putting trust in him.
“The whole idea behind it is that, in my opinion, a home is always going to find its market value if you underprice it,” he says. “But if you overprice a property, you’re shooting yourself in the foot.”
It appears that the strategy is working. In the three days that it has been on the market, the listing has been viewed nearly 100,000 times as of Friday afternoon and has been saved by 4,100 users.
Hubel says he has received nearly 200 offers for the home so far, with the highest bidder offering more than $30,000.
“I’ve gotten calls from India, Asia, the United Kingdom and damn near every state in the country,” he says. “My buyer pool isn’t just investors in Pontiac, Michigan, it’s investors throughout the world.”
If you want to snag the home, you’ll need to act fast. The listing asks that all offers be submitted by Wednesday, Aug. 23 at 10 a.m.
DON’T MISS: Want to be smarter and more successful with your money, work & life? Sign up for our new newsletter!
Get CNBC’s free Warren Buffett Guide to Investing, which distills the billionaire’s No. 1 best piece of advice for regular investors, do’s and don’ts, and three key investing principles into a clear and simple guidebook.
Read the full article here
