Thursday, November 19, 2009

Villa Taj .......still empty.

The eastern influenced home at the corner of Plainfield and County Line Road, started out at being listed for $24,000,000. It was such a joke in the fact that the house had little land with it. So the builder- a doctor, then placed it up for foreclosure auction with the starting bid of $6,250,000. It was a sealed bid auction. Three people came with checks for the down payment of $250,000. At the auction it was not placed on the block, instead they took all 3 bidders information and told them that they would meet with the builders lawyer and place a one time bid with the highest as the winner. There has been no word about the meeting and the home is still empty. Meanwhile the Doctor has moved to Florida and started his practice there. The Doctor had never built a home before and this was his passion to build his dream palace. Unfortunately he had no clue about the market. I wonder how he is going to avoid capital gain taxes. Stay tuned.

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