Buy a Historic Florida House for $1, but Here's the Catch ...

Fla. Couple Selling Home for $1, You Just Have to Move It

Got a buck? Then you can buy a historic house in Sarasota, Florida, with hardwood floors, granite counters, and a Viking stove. But there's a catch (there's always a catch!): It will cost you about $130,000 to move the 2,200-square-foot home away from it's home to your lot wherever.

The current owners bought 1215 Pomelo Ave. about six months ago for $605,000. Barbara May, the agent representing the sale, told AOL that the couple loves the half-acre lot, but have decided not to remodel or add onto the house. The home verifiably dates back to 1926 but, neighbors say, could have been built as early as 1877.

So instead of tearing down the four-bedroom, three-bath house, which was home to Sarasota's first postmaster general, the owners are selling it for $1 to anyone who will move it out.

Moving a house in Sarasota is not unheard of. Professionals looking for a stand-alone suite, or gallery owners wanting a charm-filled historic structure, move homes that they pick up for a song. The problem with 1215 Pomelo Ave. is that it's too tall and too wide to roll down local streets. So the new owner must take off the roof, saw it in half or in thirds, and move it at 3 a.m. so local police can hold up traffic lights and power lines as the house rolls to its new home.

May figures that the total cost for permits, moving and reattaching the house would be about $130,000. But that's a bargain, considering new construction in Sarasota costs about $150 a square foot, which would put the price tag on a new and comparably-sized house at about $330,000.

May, who theoretically could make a 3-cent commission on a $1 sale, says that she's had one serious looker so far. But the young family couldn't get financing for the project. Lenders, evidently, aren't eager to finance a nearly 100-year-old home that must be sawed apart.

If you're interested -- and have cash -- move fast. If the house isn't sold by the end of the year, it will be torn down.

Historic Sarasota Home on Sale for $1
See Gallery
Buy a Historic Florida House for $1, but Here's the Catch ...
Read Full Story

Find a home

Powered by Zillow

From Our Partners