Weekly Top Ten Real Estate Hot List Tue: 10-16-2012
Sad news for Warren Sapp. Goes to show that you can make untimely business decisions that can get you into a world of hurt, but not paying your child support, alimony and taxes in order to make that untimely decision can get you into the orange jumpsuit. So is it sad or just plain old retribution biting you in the backside when you fail to keep your priorities straight? So many sports “heros” seem to have financial immaturity as a common denominator, it’s a wonder there’s anyone left to toss, kick, hit or throw a ball.
In April Sapp filed for Chapter 7, which liquidates and discharges everything except child support, income taxes less than 3 years old, property taxes and spousal support. Sapp claimed he owed more than $6.7 million but only had $6.45 million in assets. Since boys will have toys, some of those assets were 240 pairs of Air Jordans, a lion skin rug and a boxing glove signed by Muhammad Ali, however, he (oops!) “lost” his Super Bowl ring. Even though his bankruptcy has been discharged, he still owes hundreds of thousands of dollars in child support payments and alimony to four different women and sets of children with only one of those being an ex-wife.
Sapp’s history of bad decisions is making it possible for some lucky person to buy his over-the-top custom Tuscan-styled mansion on Lake Butler Sound in the exclusive gated community of Reserve at Lake Butler Sound. The 18,000 square foot manse has 4 bedrooms, 8 baths, is loaded with other glamorous amenities along with 500’ of lake shoreline and boat docks with lifts.
Former NFL star's Florida home going to bankruptcy auction on November 1st. Sapp told the Tampa Tribune, "Do you think, if there was any other way possible, I would have done it? It was either this or go to jail."