Teresa and Joe Giudice's Beach House Auction Is a Bust: 'There Really Was No Value Left, Other Than Sentimental'
Bidding for the five-bedroom jersey shore home began at just $100
“This particular home was purchased as an investment property several years ago before the real estate market crashed and before Hurricane Sandy caused significant damage to the area where the home is located,” Teresa’s lawyer James J. Leonard, Jr. tells PEOPLE.
“The reality is, there really was no value left, other than sentimental, and that is why they decided to part ways with the home.”
Since no one bid on the Real Housewives of New Jersey stars’ foreclosed home, the mortgage holder bought back the property and could relist it back on the market.
RELATED VIDEO: Joe Giudice Talks Teresa’s Life in Prison – Including Her Beauty Regimen
The auction comes just days after police were called to the vacation residence after a neighbor complained of “loud arguing,” while Joe was there along with Teresa’s parents, his other three daughters, his brother, his wife and three of their children.
“It was a keep-and-restore-the-peace call made over loud arguing,” patrol officer Christopher Fritz of New Jersey’s Stafford Township Police Department tells PEOPLE, adding the neighbor reported the argument was between two men. “Once everyone was calmed down, we cleared. There was no cause for arrest.”
While his latest brush with the law was short-lived, Joe is set to begin serving his 41-month fraud sentence in December.