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There are indeed many places where the land value is effectively zero and the building is also worthless. But offers like these often have other obligations so
by larsiusprime 1y ago
There are indeed many places where the land value is effectively zero and the building is also worthless. But offers like these often have other obligations so the 1 euro cost is not the all in price.
- Ekaros 1y agoOr even negative. If there is some entity that can force the buildings to be demolished by the owner.
- technothrasher 1y agoMost dramatic example of this I've seen is the US Navy selling off their decommissioned aircraft carriers for $0.01. But, as you say, the purchase price is not the real expense of buying one. For these ships, it's the millions of dollars it takes to tow it to your scrap yard and tear it apart.