$13 million foreclosure looted by thieves
A $13 million home located in Encinitas -- located 25 miles north of San Diego -- was foreclosed after a complicated case involving a planned rehab center backed by Deepak Chopra, zoning issues and angry neighbors. The sheer size of the case has attracted a lot of media attention and apparently thieves too: The Union-Tribune reports that the home was looted for an estimated $1 million worth of appliances, antique doors, and high-end toilets.
Police are investigating but haven't yet made any arrests.
The former owner told police that she had tried to secure the property with chain-link fencing and locks, but told detectives that the bank had ignored her suggestion that they hire a security guard.
The security had to have been a total mess: How many hours and how many people does it take to ransack a house of $1 million worth of "doors, windows, fixtures, toilets, cabinets and appliances," as the police report stated?
While the home cost $13 million to build, it reverted back to the lender and the bank has offered it for as little as $3.645 million. With 15 bedrooms, the home is a bit of an oddity and its original purpose as a rehab center (but zoning prohibits it from being used as anything other than a home), its list of potential buyers is apparently quite small: So maybe all those antique doors and toilets were just going to waste anyway.