Kurt Bayer

Kurt Bayer is an APNZ reporter based in Christchurch.

No takers for Invercargill's $1 house

The $1 house that nobody wants to buy. Photo / TradeMe
The $1 house that nobody wants to buy. Photo / TradeMe

An offer has been placed on a large, run-down Invercargill house which is on the market for just $1, according to reports.

The three bedroom home has been on the market for six weeks without any bids, but an unidentified Southland man has apparently made the first offer.

The biggest hurdle in selling the spacious property, with a classic rimu interior, has been the requirement to move it from the site - at the buyer's expense.

The new home owner could end up forking out up to $50,000, according to relocation experts.

The Tweed Street property is owned by The Greenvale Group Limited, which operates the neighbouring Rose Lodge Rest Home and Retirement Village.

Manager Janine Lovett said she's had a "large amount of enquiries'' this week.

"It's a good solid home. Somebody will get a bargain,'' she said.

"We've got some people interested who are now liaising with removal teams.

"It all comes down to whether their land is suitable for the house, which is quite big.''

After going weeks with no offers it now appears someone has taken the plunge, with an unknown man putting in an offer, according to 3 News.

The offer would not go unconditional until early December, the station said, as the prospective buyer had not yet organised moving options.

This evening the house was still listed on auction website TradeMe as being for sale.

Relocatable houses are especially popular in post-earthquake Canterbury, where housing resources are stretched and rent and property prices are soaring.

Richard Hutchinson of the Relocatable House Co said last week that the property could easily be shifted around the South Island.

There would be some challenges given it was built from brick with a stucco exterior and tile roof. However an expert team could move it to a new base within 100km in a few days for $40,000-$50,000, Mr Hutchinson estimated.

Once on its new site, it would have to be re-insulated and given a new cladding.

"It looks like a nice, solid big house. Moving it wouldn't be a problem,'' he said.

It would be a bargain for someone, said local real estate agent Daryl Spence.

"For $1, someone will want it.

"A dairy farmer or someone could want it on their farm to put their workers in.''

The house, on its site, would go for around $130,000 in its current state of disrepair, Mr Spence reckoned.

It had a government valuation (GV) of $144,000.

Ms Lovett said once the house was gone, they could tidy up the site, and think about using it for future development.

- APNZ

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