50 Cent Settles House Battle

5 months ago 08th Jun 03:40

Rap superstar 50 Cent has finally settled a long legal battle with an engineering company he accused of misleading him over his purchase of Mike Tyson's former home.

The star paid $5 million for the mansion in Farmington, Connecticut in 2003.

50 Cent was told the estate needed repairs costing $500,000 , but he claims he has spent millions more fixing faults that should have been spotted by the firm he hired to survey it.

The house is not worth $1 over $5 million

An undisclosed settlement was reached in court on Friday (05Jun09).

Just this week, 50 Cent conceded defeat in his two-year-long bid to sell the 52-room mansion, after dropping millions off the price-tag.

In fact, a real estate expert claims the house is only worth the $5 million he paid for it, despite the estimated $10 million he has spent on improvements.

Prudential Premier Homes agent Rob Giuffra says, "The house is not worth $1 over $5 million. Celebrities often overvalue a house, so they keep dropping in price. That home in that location is not worth anywhere near $14 million, and it will never sell for that, no matter how long you leave it on the market".