TV Show Did Not Sell Home

A home that was featured on a TV show "Million Dollar Listing" did not cause the home to sell.  The Newport Coast home on Bravo TV with an asking price of just under $10 million did not sell.  The show featured a big fight over the difference between that price and the $8 million cash offer.  The TV show did not sell the home in Pelican Crest went to foreclosure a few weeks later. 

The Realtor who made the offer was selected by the bank to list the property and sold it for $7,050,000.

There were some problems in the sale the basement filled with water and had be be repaired at he tune of over $200,000 which lead to a price drop. 

The owner who lost the home called the cash offer of $8 million "ridiculous.  So what should have been a sale if the owner accepted the offer ended up a foreclosed property and the TV show did not sell the home.

Elite Home Sales Team

Instant MLS Listings & "Free" Market Analysis

Mark Paulson and Tim Lorenz

www.markandtim.com

 
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9 Comments on TV Show Did Not Sell Home

NOV
04
2009
517,947 Points Outside Blog Called Shot Master

I forgot to let everyone know that it was not the realtors but the seller who had the problem.

1:00am • #1
196,535 Points 10 Featured Posts Outside Blog

I saw it and the seller was ridiculous and wouldnt even consider the 8 million CASH offer... when she bought it for 4...it makes you wonder how people get to a mind set like that... she would rather lose it than sell it and walk away with money in her pocket... is it pride? is it greed? is it stubborn....

makes no sense yet you see people do that on much less scale everyday... go figure!

the realtor just walked away from the lsiting when she wouldnt even look at the 8 million cash offer... he did his job... and when he saw she was not reasonable he walked... i thought that was pretty good!

2:04am • #2
797,354 Points 5 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

It's a good lesson to sellers who feel if a home just gets enough "exposure" and glamour, it will sell for their expected price.

2:51am • #3
363,226 Points 5 Featured Posts Attended Rain Camp Called Shot Master

I saw that and just could not believe she (the seller) was that out of reality to not take the offer. But as Paul Harvey said "Now we know the rest of the story!" Thanks for the update!

5:38am • #4
156,166 Points

Interesting info.  I just saw that episode while eating my lunch today, and I thought how lucky I am NOT to have clients as STUPID as the one featured. 

1:24pm • #5
NOV
05
2009
321,121 Points 2 Featured Posts Localism Sponsor

Wow - I missed the show but sounds like the seller was a stellar example of what not to do!

:)

10:09pm • #6
NOV
07
2009
NOV
08
2009
1,653,043 Points 134 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

I did not see the show, but based upon your post, sounds like it was one to miss.  I wonder how that seller feels about her decision today.

 

6:42am • #8
471,280 Points 26 Featured Posts Localism Sponsor Called Shot Master

I didn't see the show either, but I can only imagine that the seller is kicking herself in the behind for not taking the $8 mil -- that's really too bad. And I wanted to stop by to say thanks for commenting on my post today.

9:50pm • #9


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