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Jerry Rice

You'll Pay for Blowing Sale

of My $11 Million Mansion

12/5/2011 5:00 AM PST BY TMZ STAFF

Jerry Rice Northern California mansion
The cost to purchase Jerry Rice's Northern California mansion -- $11,000,000.
The cost to back out of the deal at the last minute -- $330,000 ... and a lawsuit.

According to court docs obtained by TMZ ... Rice claims he was all set to unload his massive home in Atherton, CA (which Forbes ranked as the 2nd most expensive ZIP code in the US in 2010) ... when the buyers decided to pull out at the last minute.

It's a pretty kick ass home -- with 6-bedrooms, 11 baths, a gym and a movie theater. And according to the docs, Jerry was willing to throw in some of his stuff to sweeten the $11 million deal ... including a treadmill, a pilates machines, 2 animal print chairs and more.

According to court docs obtained by TMZ, the buyers signed a contract in which they agreed to close the house by July 15, 2011... or else forfeit a $330,000 deposit.

Buuuuuuut ... Rice claims the buyers couldn't seal the deal by the deadline ... and BOOM -- now he's suing so he can keep the money without having to sell them the house. Sounds like a great deal for Rice.

Attempts to reach the buyers were unsuccessful.


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35 COMMENTS

No Avatar
16.

Canadasux    

So,...what's the story here, TMZ? Signing on the dotted line, then, backing out of the deal should get the signers sued for the specified amount. And, $300,000? What's that to these entertainment people? So, they can't buy another new car this year...LOL!

1020 days ago
17.

Willie'sNelson    

It aint really a great deal fer Jerry cause his house coulda sold and been off the markit by now if the reluctent buyers hadnt put a hold on it then backed out. And real estate prices keep goin down so by the time it sells it probly wont be worth the $11 millon he was asking.

1020 days ago
18.

PPC    

This is nothing more than the buyers willing to sign off on a deposit and deadline (standard procedure), then backing out. They are libel for that deposit amount and Rice should get it, though his realtor will probably, or tried, to convince him not to pursue it due to the realtor's "relationship."

1020 days ago
19.

crimsons    

I'm a realtor, and the standard contract in Calif. states that the buyer forfeits the deposit by a certain date. Something is up here -- there's no reason to sue just for something that's already in the contract. Just keep the dough.

1020 days ago
20.

en Todo Momento!!    

all forbes needs to do is name compton as the most lucrative zip code, and voila, over night, everyone n they momma is movin to compton. durr...

1020 days ago
21.

Jenna    

All he has to do is contact NeNe Leakes. The self-described "rich beotch," the loudmouth who roared to anyone within listening distance and to the entire American public "I AM RICH," should be able to take this mansion off Jerry Rice's hands easily. After all, she claimed that Donald Trump mentored her and taught her all the secrets to money. Take those lessons you bragged that Mr Trump gave you, Miz Moneybags and show us what the nouveau riche can do!

1020 days ago
22.

Jenna    

All he has to do is contact NeNe Leakes. The self-described "rich beotch," the loudmouth who roared to anyone within listening distance and to the entire American public "I AM RICH," should be able to take this mansion off Jerry Rice's hands easily. After all, she claimed that Donald Trump mentored her and taught her all the secrets to money. Take those lessons Mr Trump gave you, Miz Moneybags and show us what the nuveau riche can do!

1020 days ago
23.

Cory Roberson    

The house would go for about 2.5million if it wasn't in Atherton. Atherton is home to alot of Silicon Valley wealthy, which makes the homes overpriced like Beverly Hills. There are a few 20/30 million dollar pads there.

1019 days ago
24.

Cujeaux    

It's looks like a baptist pastor's residence in Oklahoma.

1019 days ago
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