No one was interested to buy the Giudices' four-bedroom home which is located on the Jersey Shore although the bidding started at only $100.
- Aug 20, 2015
AceShowbiz - Joe and Teresa Giudice's New Jersey beach house received no single bid at a recent auction. A spokesperson for the Ocean County Sheriff's Office confirmed no one bid on the four-bedroom house located on the Jersey Shore although the opening bids began at only $100.
New York Post's Page Six reports that the star of "The Real Housewives of New Jersey" and her husband owed $348,000 on the waterfront home to HSBC bank. Since no one was interested to buy the foreclosed home, the bank bought back the property and could relist it back on the market.
Teresa's lawyer James J. Leonard Jr. tells PEOPLE about the couple's decision to let go of the house, "This particular home was purchased as an investment property several years ago before the real estate market crashed and before Hurricane Sandy caused significant damage to the area where the home is located."
He adds, "The reality is, there really was no value left, other than sentimental, and that is why they decided to part ways with the home." The house was actually completely renovated after the Hurricane Sandy.
Joe and Teresa's Towaco, New Jersey, mansion is also put on the market with a $1.8 million price tag.
