A day after the 20,000-square-foot home of jailed NFL star Michael Vick went on the auction block, there is still no one willing to cough up the $3.2 million required to gobble it up.
To have an opportunity to even bid on the eight-bedroom luxury home in the suburban Atlanta neighborhood of Duluth, one needed to present a cashier’s check for $160,000, which is half of the required 10-percent deposit. But not even the two prequalified bidders, Seema Jain of Virtual Properties and Narender Reddy of Metro Brokers/GMAC had the cashier’s check. Both told the Atlanta Journal-Constitution that they are not sure what happens next.
“I have no idea; the attorneys have to decide,” said Reddy, who said he’d offered the minimum asking price on behalf of a client two months ago. “They’re going to have to go back to the judge and re-strategize. … I was very confident our offer was going to be the best, and I told them that two months ago.” Even now, I told them that.” He said his offer was rejected because the court wanted to see if an auction would fetch a higher price. So he pulled the offer back, the Journal-Constitution reports.
Vick is finishing up the final his 23-month federal prison sentence for dogfighting and animal-cruelty charges.
He purchased the home nearly four years ago for $3.77 million; he owes the mortgage company about $2.8 million. In addition to the eight bedrooms, the home features 11 bathrooms, two fireplaces, a two-story foyer, a garage that accommodates at least four cars, a dining room for at least 12, cathedral ceilings, hardwood floors and a two-story library/office, according to the Journal-Constitution. There’s also a pool room, movie theater and an indoor golf simulator.