Alabama’s Largest Estate Nets Only $4M at Auction—$10M Less Than Expected

Published: November 5, 2015 | By: American Luxury Staff

An Alabama mansion that just went to auction didn’t bring in nearly as much money as expected. In fact, the Birmingham property netted $10 million less than predicted.

Valued at a $12.1 million, the 27-acre estate sold for a paltry $4 million at auction. After 12 years of failed attempts to sell the home, it’s unlikely owner Larry House—former CEO of medical supplier MedPartners—is relieved from his financial troubles.

The southern home was still under construction back in 1997 when MedPartners’ stock dropped and House was let go.

Featuring a screening room with a 170-inch screen, wine cellar, commercial-grade elevator, and a game room, there’s plenty of opportunity for entertainment. The new owner will surely also enjoy the pool complete with a Jacuzzi, cabanas, waterfalls, and located near the six-stall horse barn.

A 2-bedroom guesthouse and 12-car garage are also conveniently located on the large property.

8781 November 5, 2015 Real Estate November 5, 2015