Huge blow for Katie Price as Mucky Mansion sells for less than amount she paid 10 years ago

Despite a general rise in real estate values over the years, Katie Price’s Mucky Mansion was sold for less than she had originally paid for it ten years ago.

The glamour model’s mansion, which she bought for £1.35 million, was originally listed for £1.5 million, and it was believed a buyer had been found. However, the sale fell through, and the asking price was slashed by a whopping £150, 000 as a new owner is sought. The property remained unsold, leading to another price reduction.

With its reduced price of £1.15 million, Katie has finally secured a buyer for the property. A Rightmove public notice states that “Mortgageees in possession are now receiving an offer for the sum of £1, 150, 000.”

If the sale proceeds, Katie won’t be reimbursed because she is no longer the property’s owner. After being declared bankrupt for the second time in March, the 46-year-old former glamour model was legally evicted from her sprawling mansion in May. Due to an unpaid tax bill, the TV host was declared bankrupt.

Before being expelled for failing to pay the mortgage, Katie resided in the nine-bedroom home for a while. The lavish property, which sits on 12 acres of land, was the feature of a TV show with the star. In 2014, she purchased the house from Tory grandee Francis Maude.

However, any sale will likely result in the model’s debts being paid off by Sussex home. It’s said Katie owes the taxman £750, 000 and was declared bankrupt for a second time.

The property was severely neglected after Katie moved out. Before it could be listed for sale, the grounds became overgrown, the swimming pool water turned green, and the owners had to haul in piles of trash and leave abandoned cars. According to reports, the property had to be made marketable by clearing over 20 tons of waste.

A renovation in July transformed the mansion, making it unrecognisable compared to its state during Katie’s ownership. The property, originally nicknamed the “Mucky Mansion” due to its disrepair, was a source of frustration for Katie. Because of all the previous events that took place there, she once said, “I absolutely detest the Mucky Mansion, even the way it’s been called the Mucky Mansion.”

Princess Andre, the property’s daughter, previously shared her dislike of the home. Speaking on the show, the then 14-year-old said: “I didn’t really like this house at the start. It was a dark house. It contained so many unpleasant memories. I didn’t even want to walk on the driveway”.

The show centered on Katie’s efforts to transform her 19-room, vandalized, and uninhabitable mansion into a permanent family home. She continued to have financial issues, so it was discontinued after two series.

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Source: Mirror