Posted by Rapti Gupta on Jun 28, 2014 02:44 AM EDT

Smith College Selling On-Campus House for $1, But…

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Smith College's $1 home more big
Smith College, the independent women liberal arts college in Northampton, Mass., is offering a home located on their campus for sale for just $1 but once the deal is done, it wants the buyer to move the home from the campus – which could cost up to $70,000 and more! (Photo : Realtor.com listing)

Smith College, the independent women liberal arts college in Northampton, Mass., is offering a home located on their campus for sale for just $1 and no, this time it's not a "confusing error" like Shaquille O'Neal's Florida home sale.

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The college is indeed offering the house for $1 but once the deal is done, it wants the buyer to move the home from the campus - which could cost up to $70,000 and more.

The college told the Daily Hampshire Gazette that it was selling because it wanted to replace the structure with a more modern residence. However, since the home was a historic structure and is still in good shape they did not want to raze it down. Instead, they thought they could offer it to someone who could preserve and make good use of the 1860-built home.

The residence at 65 Paradise Road was used as a rental unit to accommodate faculty and students. The college added other structures around the house will be demolished to build housing for them. The institution hopes to move the house by September this year.

According to Boston.com, moving a home from its current location takes "big trucks, lots of manpower, and loads of time" and that's not it. One will also need to buy land in the area to put the house down, which would cost a minimum of another $60,000 (that's the cheapest).

Smart move! But who is really going to buy this house?

The listing of the 2,332-square-feet three-storey residence is held by Jones Group Realtors. Agents from the company told the Gazette that the home is being marketed just like any other house and has already garnered a lot of interest. Inquiries about the home have started coming in and customers seem to show interest in the house, intrigued by the $1 price.

An agent added that the home will have to be moved from the site explaining that the residence has to be removed from the foundation by the joists and transported onto a large truck. While he wasn't sure about the cost, he said that a similar house that was moved by Amherst College cost an approximate $70,000.

Check out the residence in a video below:

Take a look at a time lapse video of Brown University moving a home here.

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