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Real Estate Deal Analysis & Advice

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Eric Huebner
  • Mukwonago, WI
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15
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“Free” House with a catch. How can I make this work?

Eric Huebner
  • Mukwonago, WI
Posted Mar 25 2018, 21:48
Free House. Not something we hear all that often. I ran across this story and am racking my brain on how I can make this a win-win deal for everyone involved. Long story short- there is a historic (1870’s) home that a nearby city in Wisconsin needs moved to make room for a library parking lot expansion. The house is free, but the “buyer” needs to pay to move the house off the lot by July 31st. I believe that the city is even offering a free lot for the home to be moved to, but I cannot confirm that at this time. I know that moving a completely intact house is very expensive. Just think of all the power lines in the way. Not to mention all of the permits needed to travel with a house on a trailer. Then there is the costs involved with getting it set on a foundation on a lot and hooked up to services. Has anyone ever done something like this successfully? Is it even worth all of the work needed? From the photos I have seen, I believe they may have the home set up as a three family, due to three gas meters in one of the photos I saw. So what do you think about this BP???? Here is a link to the news story they had on the home: http://fox6now.com/2018/03/25/theres-not-another-house-thats-like-it-and-it-could-be-yours-for-free-but-theres-a-catch/amp/

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