PALM BEACH COUNTY, Fla. — Imagine buying a condo for $1. And not just any condo, but one in a premier country club in suburban Boca Raton.
Paul Green just bought his one-bedroom condo in Boca West County Club facing the golf course for just $1!
Green, a rest estate agent, said he moved in this month and started working on updating the unit. He added his property isn't the only deal in Boca West.
"Like mine, for $1,000 only this apartment has been redone already," said Green, as he showed listings in Boca West.
Matthew Maschler with Signature Real Estate said he sees units for sale under $50,000 on a daily basis.
"There were 58 units sold for $1 or under $5,000. That’s been since 2011," said Maschler.
Maschler said the reason properties are selling so cheap is because sellers are just looking to get rid of them.
Also, when buying into Boca West, the country club has a $70,000 membership fee and annual fees.
"When you do the math, it costs me about $2,000 a month including the maintenance," said Green.
The membership fee tends to scare away some buyers, but Green said it was perfect for him.
"You always wonder about people that won the lottery, and what life would be like, and it's kind of sort of like winning the lottery," said Green.