House in Texas for sale for just $1

HOUSTON, TX -- Buying a home may be an expensive venture for many, but one Houston, Texas home may be in range because of its list price.

A real estate group is listing a 5-bedroom, 3.5 bathroom home for just $1.

"This is the first time our team has listed a home at this price point," Loken Group CEO Lance Loken said in a statement. "We knew how much the seller has enjoyed living here; and, after discussing marketing strategies, she loved the idea of opening her home to the public so everyone could have an opportunity to fall in love with it, as well as present an offer."

The home in northwest Houston is appraised at $293,336, according to a statement from the listing agent.

The real estate website Zillow shows the home to be 3,706 square feet.

Showings are scheduled to start Sunday with an open house from 2 p.m. to 4 p.m.

While the list price appears to be a bargain, buyers aren't likely to make a deal with a dollar.

The homeowner is asking potential buyers to set the price by submitting their best offer.