Wed. Sep 20th, 2023
    A Farm in Spain Is Up for Sale for Just One Euro

    A farm spanning over 40,000 square meters in Amusco, a small village near Palencia, Spain, is currently up for sale for just one euro. This offer has generated a lot of interest, with potential buyers visiting the premises. The auction is being organized by the real estate portal Escrapalia, which specializes in public auctions.

    This is the third and final auction to sell the farm. In the previous two auctions, with starting prices of 368,000 euros and 184,000 euros respectively, there were no interested buyers. Eventually, the company that owns the farm filed for bankruptcy, and the Commercial Court of Palencia approved the Liquidation Plan proposed by the Trustee.

    This opportunity to acquire a farm for such a low price may be attractive for those who wish to settle in rural areas and embark on a business venture or pursue a life project. The residents of Amusco see this as a great opportunity for the village, as the farm could attract more people and generate employment.

    In order to participate in the auction, a deposit of 18,000 euros is required. This is a common practice in the real estate sector. Occasionally, these types of auctions generate significant media interest and result in sales at higher prices than the initial price, as was the case with the rural hotel ‘El Tejarero’ in La Iglesuela del TiĆ©tar, which sold for 368,000 euros after being valued at 617,000 euros.

    The farm in Amusco consists of two industrial buildings, a warehouse, and a house with a porch, living room, kitchen, three bedrooms, two bathrooms, and a garage. The house has over 159 square meters on a single floor and is in good condition. Currently, it is rented out until 2027. The deadline to bid in the auction is Wednesday, September 20th.

    Sources: Escrapalia, Commercial Court of Palencia