Unusual appeal by Ed McMahon's agent: Please, buy Ed's house

Ed McMahon's Realtor is appealing to his realty brethren to hurry up and find a buyer for the entertainer's Beverly Hills home before it is foreclosed in the next two weeks. McMahon has already slashed the asking price on the house from $7.7 million to $4.6 million.

Update: The L.A. Times is reporting a new twist: Donald Trump has stepped forward to buy the house and will lease it to McMahon.

In an unusual open letter appearing as an ad in this week's the MLS Open House Guide, Alex Davis, of Hilton & Hyland in Beverly Hills, says that all of the junior lien holders are "miraculously" going to allow a short sale at $4.6 million.

A buyer made a low-ball offer of that amount, the letter says, but the deal fell apart. "Now we have two weeks to find a new buyer and sell the estate. We will show the property to anyone with the resources to close the deal in a timely manner," it says.

"The situation has nearly hit rock bottom," the letter reads, and "if it's not sold in the next two weeks or so (or in escrow), they will not only be foreclosed on, but lose everything in their home including all personal items," the letter reads.

Davis notes that he is "able to pay the selling broker a $115,000 commission and want you all to know that you will be the hero of a man who's been the hero of so many others if you could help bring this deal to fruition." That's a 2.5% commission.

Concluding, Davis notes: "In a business where people thrive on money and commissions, the reward is infinite, as you are truly changing someone's life."

-- Ann Brenoff
Your thoughts? Comments?

Photo credit: Associated Press

Comments

[E]

Changing his life?

More like becoming his "bagholder"

Sorry Ed.

[TakeFive]

Here we go again...

He isn't "losing" his home. He sold it to the bank.

And what's up with this:

"...they will not only be foreclosed on, but lose everything in their home including all personal items,"

Two words come to mind:

Yard Sale.

[Hula Girl]

This is so not news.

Anybody notice the drop-off in comments since Pete was removed as sole blogger?

The blog personality has received a lobotomy: Ho-Hum.

Miss you Pete - Hope you see this if they censor it for not being "relevant" to the thread.

[Lizzy Jaye]

For some reason I do not feel too bad for Ed, he has more chances and more opportunity than most people will ever have. He has only himself to blame for this.

[Rational Renter]

Yes, I agree. I miss the Pete blog. This place just feels different.

[Laura]

What do you mean Pete is no longer the solo blogger. What happened??? Are they censoring our comments now???

I never won a darn thing with Publisher's Clearing House and I don't think anybody ever did. Karma is a bitch Ed. Deal with it.

By the way 2.5% is standard commission. Nothing special there. Also in a real estate foreclosure the bank takes the house, the real property not personal property. Although one can assume that the majority of Ed's personal items were paid with credit.

Also if you are in escrow, the bank can still proceed with the foreclosure. The bank has the discretion to extend the auction date. Ed' s agent is full of it.

[william doubt]

Would it help if the news media showed pictures of his home since it is special interest and or celebrated story. If it was worth 7 plus million when he bought the home, then
buying it at 4.6 million and selling it in a year or two when the market is better will yield a good profit. I suspect he did not do his homework and overpaid for the home.

[Mark]

So let me get this straight. Million dollar television personality, Publisher's Clearinghouse spokesman injures neck, has no health insurance and no job prospects, but has $4.6 million dollar home that can't sell.

And he has requested his bloodsucking realtor to tug at the heartstrings of millionaires everywhere to "help a former millionaire out".

Look I'm sure Ed McMahon's a real nice person, but why don't the moviestars in Hollywood just put together a potluck dinner or a massive autograph/photo shoot session and save Ed's ass here?

Jeeze, Brad Pitt and Angelina Jolie could submit 20 lousy baby photographs sell them to paparazzi and practically buy that house for the kids if they wanted.

Ed should have been more careful about his health and finances, but Hollywood's silence and lack of charity in this situation for one of its own is pretty damning.

[Marina]

Yes, Hula Girl, since Pete's been demoted the blog is less interesting and I read it less often.

Marina

[Mags]

How despicable, trying to triple the sale price in 6 years and is is arrears for milltions. People losing their homes for small thousands. You can bet he's eating large. Well, I guess he's more deserving than most, isn't he.

[Jed Clampett]

The only sympathy I feel is for Ed's neighbor, Brittany. She has to be ticked off that the trashy hicks next door are bringing down home values.

[intheknow]

I agree! about the blog being boring! w/o pete.

Also --Ed is still a human being and I hope he comes out of this OK. After all he is 85 so I am sure he would have no problem telling eveyone to just go to H3ll!

Go --Donald!!!

[Dave]

Sympathy doesn't sell....but if it did, I know about 30 other sellers with much sadder stories than Ed's.

[Rose]

It would have been nice if Donald Trump had written a $4.6 million check to L.A. Children's Hospital instead.
Just MY opinion!

[russell]

Excuse my ignorance, but is this the same house that Ed got a $7 million settlement for toxic mold?