BuyOwner.com sold for $1 million to pay creditors
MIAMI — The real estate website BuyOwner.com has sold for $1 million.
The Daily Business Review reported Tuesday that Utah entrepreneur Jonathan Holbrook bought the site. It was once billed as the nation's largest for-sale-by-owner operation.
Holbrook told the paper he intends to close the sale Wednesday. The proceeds will be split among the company's creditors.
The Florida company's revenue has declined sharply since 2008, from more than $28 million to less than $250,000 last July.
Since July, the company has generated about $588,000 in revenue but after expenses netted only $56,000.
Holbrook said he will hire additional employees, including sales and customer service agents for the Deerfield Beach, Fla., headquarters and the Chicago office.
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