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Sale of historic Wright home set for demolition is unsuccessful

Frank Lloyd Wright is probably one of the nation's best known and most celebrated architects. Wright's innovative home public building designs are spread throughout the country, including in South Carolina. Since many view each of his structures as a work of art, it may be surprising to hear that one of his historic homes was supposed to be demolished just before it was put on the market.

The home in question was built in the early 1950s and was designed by Wright for his son. The home has been listed at $2.4 million and it appeared as though a buyer was poised to complete the residential real estate deal, but a recent announcement signaled that the parties could not finish the transaction.

According to a statement made by the real estate broker selling the home, the potential buyers did not proceed with the purchase due to "unspecified personal and business reasons." The future of the home was not made clear at the time of reports.

The development company that originally purchased the home before trying to sell it was apparently not made aware of the home's history when they bought it. That is the kind of detail that is necessary to be aware of in any major real estate transaction. Had the company been aware of the implications of buying the building, they may not have purchased it in the first place.

The historical status of a property may impact how buyers can modify or sell the structure down road. As this case proves, sorting out all the details of a residential real estate transaction can make have major implications for those looking to buy or sell the property.

Source: WIS-TV News, "Sale of Wright-designed Ariz. home falls through," Paul Davenport, Nov. 12, 2012

  • The process of buying and selling a home can become complex. Our firm has experience helping South Carolina residents complete transactions involving residential property. To learn more, please see our Charleston residential real estate closings page.

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