Florida Wills $1 Million House To Uncle Sam
December 12, 2011 by staff
Florida Wills 1 Million House To Uncle Sam, The United States government had more than two million reasons to celebrate Saturday. A longtime Coral Gables resident designated $1 million and his historic home to the federal government in his will to help wipe away the nation’s $15 trillion public debt.
Uncle Sam put the home on 1248 Coral Way on the auction block Saturday. The winning bid: $1.175 million.
The 1929, Spanish-style home belonged to James H. Davidson Jr., who lived in the home since his teenage days in 1938 and died childless last December at 87.
The home was officially designated a historic landmark in November by the Historic Preservation Board of Coral Gables.
The Miami-Dade property appraiser’s office values the two-story home that sits on four lots of land (double the size of most houses in the area) at just over $700,000.
The average list price for similar homes for sale in that area is $1.2 million, according to the real estate website Trulia.
“It’s incredible, the house really has remained untouched,” said Kelley Schild, a Coral Gables resident who came out Saturday to check out the house and see the auction.
The auction attracted about 100 people Saturday. Fifteen people registered to participate in the auction, which required them to turn in a $25,000 cashier’s check to the auctioneer that was promptly returned at the end of the auction.
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