Earlier they talk about taxes + fees totalling about $3,000. A few seconds after listing the expenses they cite a Forbes article, where one residents expects to spend $124,000 to renovate their place.
They talk about some of these homes requiring at least $17,000 of renovations to be done.
The houses are sometimes auctioned off, starting at $1, but they may be sold for more than $20,000.
The deposit is refundable if you start renovating within a year after buying the house.
I'm even lazier than you, so I won't watch it and just guess: I suspect that the purchase is contingent on you committing funds to restoration that honour history (if appropriate) or code. e.g., you can't buy a ruined castle, make it remotely liveable and camp there; you'd need to deal with local council, sewage, plumbing, running electricity, etc. Where a certain technique of centuries-old stonework was used, you'd need to find the lone expert accredited in renovating and securing walls, etc.
There are hundreds of amazing ruins around Australia that the land owners can't justify renovating because the costs to do it justice are too much. Huge shame.
If you click the ellipsis (...) above the subscribe button there's an option to "open transcript" which pops up in the top right corner. You can copy-paste the whole thing into notepad or whatever.
They talk about some of these homes requiring at least $17,000 of renovations to be done.
The houses are sometimes auctioned off, starting at $1, but they may be sold for more than $20,000.
The deposit is refundable if you start renovating within a year after buying the house.