Prince's Minnesota estate now off the market
April 27, 2011 - Updating a recent story, Prince's estate in Chanhassen, Minnesota, is no longer on the market. It had originally been listed as available at an upcoming auction due to mortgage payment failures.
While Prince's representatives had stated that the performer had paid the balance of nearly $368,000, the Bank of New York Mellon Trust had not received it, and thus, had planned the auction. However, the bank received the payment soon after the auction announcement and promptly removed the 20-acre property's listing.
Prince initially bought the property in 1994 for $605,000. After moving to the home and living there for several years, the artist then had the property razed in 2005. The estate is now valued at $1.15 million, a significant decline from last year's $1.5 million figure.
The close-call foreclosure is just one of many financial delinquencies Prince has experienced recently. In 2010, he paid $1.3 million in delinquent payments for property taxes on 14 parcels across the local Minnesota county. Furthermore, his tax payments for the county were late in both 2006 and 2008.
Recent Articles
Chris Brown pleases ex-neighbors, lists West Hollywood penthouse for sale
While singer Chris Brown was seen moving boxes into a new Los Angeles area home a couple months ago, Realtor.com says he has now listed his former West Hollywood property for sale.
Friday, May 25 2012 12:16
Actor Josh Hutcherson moving into former home of Heath Ledger
Hunger Games fans may be excited to hear that actor Josh Hutcherson may be calling for moving services, as news sources report he recently purchased a home in Hollywood Hills.
Friday, May 25 2012 12:15
Hockey player Patrick Sharp buys home in Chicago
News sources report that Chicago Blackhawk Patrick Sharp may be calling for movers, as he recently purchased a home in the Lakeview neighborhood of Chicago.
Thursday, May 24 2012 17:27
Actor Eddie Murphy finally sells home in New Jersey
News sources report that comedian and actor Eddie Murphy has finally sold his home in Englewood, New Jersey.
Wednesday, May 23 2012 15:26
Celine Dion selling private island complete with mansion
News sources across the globe are reporting that singing sensation Celine Dion has listed her private island complete with a mansion for sale.
Tuesday, May 22 2012 16:03
Related Categories
Foreclosures News
Soon to be the property formely known as Prince's?
According to the Star Tribune, Prince's property in Chanhassen, Minnesota, has entered into foreclosure, as the musician still owes roughly $368,000 on his mortgage.
Friday, April 22 2011 12:21
|
Some celebs' homes in danger to foreclose
Even some of the world's rich and famous aren't immune from the effects of foreclosure, and several have found themselves moving out of home after falling into mortgage issues.
Friday, March 25 2011 11:33
|
Builders highlighting risks of foreclosed properties
Homebuyers have been seeking out low-priced foreclosures and short sales when moving to a new home, a problem many homebuilders are now tackling through new promotional strategies.
Thursday, March 10 2011 10:19
|
Foreclosure sales prevalent in Western U.S.
A new report on foreclosure data from around the country showed a high number of consumers in western states were moving to distressed properties in 2010.
Tuesday, March 01 2011 10:56
|
Mortgages News
