$1 House In Oklahoma Is No Shack: See Inside

EDMOND, OK — An Oklahoma couple settled on a brilliant strategy to sell their custom-built home and listed the property for $1. With an estimated value of $413,000 the property is no shack. For starters, it's situated on a well-manicured, two-acre lot and has four bedrooms, four baths and a swimming pool.

Dan and Sharla Bradley listed the six-year-old, 4,000-square-foot house for a buck to prompt a bidding war. And it apparently worked. More than 60 people strolled through the house, located in the Oklahoma City suburb of Edmond, during an open house and seven placed bids.

The house is now under contract, and though Keller Williams listing agent Ryan Hukill isn’t giving up the price, the Bradleys are getting more than thought they would.

Hukill told realtor.com that he suggested the $1 listing price for the property at at 9852 W. Charter Oak Road as part of an experiment to see if it would kick-start the bidding war.

“I often tell sellers that we could price their home for a dollar and the market would determine what the sales price should be,” Hukill said. “This time, I had some sellers who were bold enough to take me up on trying that theory out.”

Peek inside the $1 house.

Cedric Stewart, a Keller Williams real estate agent in Washington, D.C., told realtor.com that for some sellers, “it’s an excellent strategy,” he said.

“With the right marketing, this will make your home the talk of the town,” Stewart said. “Auction-style bidding draws something out of people and often causes them to pay slightly more than they normally would.”

It’s risky, though, and brings out lowballers, unqualified buyers and others who aren’t serious about buying and stall the selling process.

“These junk offers all legally have to be presented to the owner by the listing agent and detracts from the agent’s time and resources, crowding out legitimate buyers,” William Fastow, a real estate agent with Sotheby’s in Washington, D.C., told realtor.com.

“Imagine you are in the market for this home and you arrive to the open house and it's flooded with people,” Fastow said. “The agent announces proudly that they have 15-plus offers. If you're a serious buyer, is this really a situation you want to get involved in?”

It helped that the Bradley house has stunning and incredibly fun details, from the soaring ceilings and grand staircase off the foyer to the children’s bedroom that features a climb-up bed that looks like a treehouse.

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All photos courtesy of realtor.com