Searles Castle, Estate of the Day

Reader Comments (Page 1 of 1)

2-07-2008 @ 1:20PM

Spectacular Bid said...

Being under contract for 6 months plus and then falling through tends to suggest the would-be buyers didn't have the money to complete the purchase or they uncovered during due diligence "problems". Would it not?

Such has been the case with the aforementioned ex-DeSisto School property (Bonnie Brier) which also had been a school for troubled youths. The would-be buyers looking to make it a polo resort uncovered oil tanks that had been leaking also financing of the project ran into issues.

Not to suggest such was the case here with Searles, but there are plenty of people out there who haven't a cent yetlike to pretend they can buy a lot of multimillion dollar homes.

While foreign buyers may be snapping up US trophy properties I doubt this will be sold as quickly as optimist "KG" suggests. I reiterate again that if sold at $15M it would be almost double the highest sale ever in that county.

Dexter how is life going on the Main Line. Almost 1 year later and I see that there have been no takers yet for Ardrossan in Radnor.

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