Nation’s Priciest Foreclosure Hits the Market
August 15, 2018
The nation’s most expensive foreclosed property is now on the market in Napa Valley for $5.5 million.
According to a Realtor.com report, the 40-acre property in Saint Helena, Calif., features five bedrooms, 8.5 baths, two laundry rooms, a fitness center with steam room and outdoor kitchen gazebo.
The property was formerly the home of developer Nathan L. Topol, who paid $1 million for the parcel about 20 years ago and built the residence as a vacation rental, although it may have also been his second home. Topol died in an automobile accident in 2013 and the home was foreclosed last September.
However, listing agent Julie Larsen acknowledged the kitchen appliances were removed during the foreclosure and need to be replaced, adding the $5.5 million price set for the foreclosure auction was made with renovations in mind.
“They are not into the idea of giving properties away,” she said.
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