Home sale not easy for Barton

AMERICAN FORK — Attorney Keith Barton, who is trying to build a law practice around the catchphrase "It's that easy," found that going through a foreclosure on his large and lavish Alpine home was anything but.

Despite his efforts to negotiate a private sale and avoid a public auction, Barton's multimillion-dollar mansion was sold to Alpine resident Lennon Ledbetter for $7 million at an auction Friday morning outside the 4th District Court building in American Fork.

And that was a bargain. The value of the home ranged from $14.9 million to more than $20 million, depending on the appraisal.

The auction was originally scheduled for Jan. 9, but Bank of America, which gave Barton the two loans on which he defaulted, postponed it until Friday so Barton could negotiate with a private purchaser. The house was listed as collateral for the loans.

Barton expressed frustration at the bank's decision to go ahead with the auction even though he had negotiated a deal with Ledbetter on Thursday night — for a higher price than what the home fetched on Friday.

Frustration aside, however, Barton said he was pleased that the home went to Ledbetter.

"We feel very happy for the Ledbetters," he said. "They're great people; we got to know them over the last several weeks, negotiating with them. So we're very happy for them and their family. . . . (The home) is perfect for them."

Ledbetter, who owns Quixtar, an online network marketing company, said his family is ready to move into their new home. He doesn't want to rush the Bartons out, however.

"It's a difficult situation because we have such a concern for the Barton family," he said. "When we think about when they would move, we'll definitely be sensitive to their family and their children. We appreciate all the work they did to put such a fantastic home together."

Ledbetter was one of only three bidders who brought the required $5,000 in order to bid. Two of those bidders — Ledbetter included — had been negotiating a private sale with Barton, though the other one did not offer a bid on Friday.

Ledbetter was a bit irked at first when informed that the furniture was not included in the sale of the home. Another creditor holds that lien. But even without furniture, he said he got a good price and plans to negotiate to retain the furniture.