You can buy a home in this scenic town in Sicily, Italy for $1, but you'd have to agree to renovate the homes, which could cost six figures. (via CNBCMakeIt)
As part of the deal, buyers must give a refundable security deposit of 5,000 euros andtheir house within three years. Renovations range between 100 to 700 euros per square meter , according to Case 1 Euro. Homes available on the website range from 11 to 190 square meters . So a 190-square-meter home, could cost as much as 133,000 euro or roughly $148,600 to renovate.
Buyers must also prepare a project for the renovation and recovery of the property within one year from the date of purchase and start work within two months from the date of issue of the building permit. If they fail to do so, the municipality has the right to forfeit the policy. There will also be other business related expenses and annual taxes, which can range from 2,500 to 4,000 euro , according to Case 1 Euro.
Potential buyers can check out an interactive map with detailed information on available homes in English on the website. Many of the homes are in "good shape,"
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