Seashore Mansion of Philadelphia Archdiocese Goes To Auction on Saturday
By Michelle Durham
VENTNOR, N.J. (CBS) -- This is a beachfront property that is so unique that the realtor and owner decided to put it up for auction rather than try to list and show it traditionally.
It's the 9,800-square-foot beach mansion that used to be the summer oasis for Philadelphia Archdiocesan priests.
The archdiocese is selling it to close a budget gap, and the auctioneer's gavel is poised to come down tomorrow (see previous story and more photos).
"It really is a one of kind -- a whole block wide, right on the ocean, 11 bedrooms," says Bob Dann, chief operations officer for Max Spann Real Estate and Auction Company. "They are not making them like this anymore."
There are 11 full baths, two half-baths, a full basemen, a two-car garage and additional off-street parking.
What is this property worth?
"No one really knows what it's worth," says Dann, "but by putting it up for auction, exposing it to the market, we let the buyers tell us."
There is no minimum start bid, but there are terms buyers must adhere to.
"In order to get in you need to show a $100,000 certified check written out to yourself," Dann says, then we'll give you a bidder's number and you are allowed to bid."
Bidding starts Saturday at 1pm. All the terms and the contract have been posted for some time: 10% down, closing in 45 days. Get out your checkbook! More information at maxspann.com.
