In the world of real estate, people often say it’s all about location, location, location. However, in Bath, Maine, the location of a home could help you score a pretty sweet deal, especially if you’re up for a challenge. WMTW-TV reports that a historic home in Maine is being listed for sale for a single dollar.
The catch? You have to be willing to move the house to a new location. General Dynamics Bath Iron Works (BIW) is reportedly selling some homes near its location, and they have priced them to move.
And that’s very important because the two houses that BIW is looking to offload come with a few more stipulations that may make some potential homeowners think twice about taking the company up on the affordable offer, which includes a very specific timeline for when the houses have to be gone.
If the housing crisis has you seriously considering this offer, you’re going to want to learn a little bit more about what will be required of the new owners before signing on the dotted line.
BIW Is Selling Two Buildings in Bath
According to ABC News affiliate 12WISN, BIW is selling the historic Deering House at 606 Washington Street as well as another unnamed property. The Deering House seems to be the main draw, though, since it was originally built in 1900 for a local shipbuilder.
These days, the property sits next to BIW’s facilities, and both of the buildings that are being offered up for $1 have recently been used as office space. But now that the company wants to expand its facilities, it needs the houses gone before it can get things moving.
Buyers Will Have to Move the Homes
According to 12WISN, hopeful homeowners will need to relocate the homes to a new property by Nov. 20, 2027. After that, the company plans to demolish both properties to make way for its own new construction.
So, what’s not to love about this deal? BIW isn’t offering much in the way of guarantees about the state of the house, according to the publication. Instead, any sales contract will include verbiage informing the buyer that the buildings are being sold as-is, without any warranties or guarantees.
Additionally, the new owners will be responsible for paying for everything associated with the move, including permits, transportation, site prep, and more. If you’re still thinking that this may be a worthwhile investment for you, consider the fact that Realtor.com says that the average cost of moving a house can vary based on a number of factors, including how far it’s moving and the age of the house itself. That can add up to anywhere between $15,000 and $200,000.
And that’s just the move itself.
That figure doesn’t take into consideration other costs associated with moving a home, which could include buying the land where it will be placed, grading the property, and hooking up the utilities. That being said, with housing prices as high as they are these days, there are probably more than a few people out there who would consider this a steal if it meant getting to own a piece of local history.