Auction fails to find buyer for $1M Temperance house
8/4/2010TEMPERANCE -- An 8,985-square-foot house in Temperance that was valued at $2.2 million failed to sell at auction Tuesday night but negotiations have begun with an interested buyer whose bid fell short.
The home, located on a 17-acre site at 2515 West Temperance Rd., drew 70 interested parties and 3 actual bidders who each had to provide a $50,000 deposit before they were able to bid. Bidding on the house, which was sold by Pamela Rose Auction Co., of Maumee, was required to start at $700,000.
However, none of the three bids received came close to the price the owners were looking for to sell the house. Ms. Rose said Wednesday the owners decided they would not sell the house for less than $1.09 million, or about half its estimated value.
One bidder, though, came close to the owner’s target price and the two sides began negotiations, Ms. Rose said. She would not identify the prospective buyer.
The three-story home, which was built in 2000, has six bedrooms, 6 bathrooms, a pool, hot tub, tennis court, deck, gazebo, movie room, exercise room, and a gated entry road.