This 111 Year Old Mansion Is On Sale For Just $10 But There's One Huge Catch

facts first presents this one hundred eleven year old mansion is on the market for ten dollars but there is a catch if you're looking for a new home you should know that there is a mansion in New Jersey for sale if you think you can't afford a mansion you should understand that even a ten year old child who gets an allowance good afford this mansion this one hundred eleven year old mansion is on sale for just ten dollars but there is a big catch if you've heard the saying if it's too good to be true it probably is that definitely applies here the house is located in the affluent and desirable area of Montclair New Jersey it's located on Pleasant Avenue I mean who wouldn't want to live on a street with that kind of name Pleasant Avenue well it just sounds like a wonderful place to live doesn't it well the house was designed by a local architect named Dudley s Van Antwerp the property was built in 1906 and that was a time when the architects career was really taking off he designed plenty of buildings at that time including the Yacht Club in Bayside Long Island and the Montclair Watchung Avenue Congregational Church the house has six bedrooms and three and a half bathrooms in the main building the house is close to 4,000 square feet situated on two and a half acres of land there's also a carriage house and a tennis court on the property based on the size of the home the neighborhood and the homes features it's valued at one point three five million dollars now while that is expensive it's not overly expensive for a house in that area most of the homes in the Montclair area are worth about a million dollars or more part of the high value of the house is its historical significance Aubrey Lewis who was the first African American captain of the Notre Dame football team lived in the home after college he went on to become one of the first African Americans to become an FBI agent when lewis died in 2001 the property was going to be purchased by the and he real estate group plans to demolish the Advanta and built eight houses where the house now stands well soon after the plans were drawn up the group hit a bit of a snag they found that they could not destroy the house when they purchased the property they agreed to a condition sat by the Montclair Historic Preservation Commission the agreement stated that they had to save the home and its history the current asking price for the home is now $10 this is the cost of a movie ticket even a child earns a small allowance from their parents could probably afford this mansion the reason the price is so low is that there is a big catch that goes along with buying this property this catch makes it important that you use extreme caution if you are considering taking advantage of this once-in-a-lifetime opportunity if you're planning to buy the property you cannot move into it instead you're gonna need to move the actual house to a new location according to the town officials in Montclair the property can only be sold if the new buyer will relocate the actual house that means that everyone gets what they want the buyer can have a house in Montclair and the real estate group can build their homes while the history will still be preserved moving an entire house that's a difficult task what makes this sale agreement even more difficult is that the owner must put the home no more than a quarter mile from where it currently stands all of the relocation costs would need to be paid for by the buyer the real estate company is offering the buyer $10,000 toward the move but that would never cover the cost according to Nikhil Brothers a specialty moving company relocating this house would cost up to $200,000 and the move isn't the only thing that the new owner would need to worry about before the house can be moved LED paint and asbestos would need to be removed when it comes to the renovations the new owner would need to follow the strict specifications set by the Historical Society that can be expensive as well according to lorena white a real estate agent for the prominent properties Sotheby's International Realty the cost of moving a house and renovating based on historic guidelines can be incredibly expensive this type of agreement is not unheard of either in 2007 a couple bought 120 acres of farmland they couldn't get a loan to build a new home there and they found out that a colleague was selling their home to accommodate a Wildlife Refuge they sold the Olsens their home for just a dollar rather than knocking down the 4,200 square foot home they paid twenty-two thousand dollars to move it while moving a house does sound strange it is a great way for a person to own a mansion without paying millions of dollars for it [Music] subscribe for more [Music]

Channel: Facts Verse

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Id: xb9txnYkdGI

Length: 5min 13sec (313 seconds)

Published: Mon Jul 23 2018