Rade Raicevic, who was handed the keys after a lengthy court battle following the eviction of Reno Fontana, is facing eviction charges himself by US Bank National Association.
US Bank bought the foreclosed property at a public auction on Sept. 17, 2012, for $1,7mil according to court documents.
Raicevic, who is disputing the legitimacy of the eviction, maintains he intends to sell the property, and is asking $4 million for the 1946 5,000-square-foot home with four bedrooms and five baths, and sits on 1.75 acres.
“We start the new year with a big bang,” he remarked Tuesday, saying a few potential buyers have shown interest.
Raicevic said he is confident the court will rule in his favor. After a hearing in California Superior Court in Palm Springs on Tuesday, the cased has been continued to Feb. 25.
The home at 845 W. Chino Canyon Road is a popular attraction for admirers of Elvis Presley. And indeed, Fontana, the home’s last occupant, was a fan who had hoped to develop the home into a tourist attraction. A July 2012 ruling in Superior Court placed the home back in the hands of Raicevic and Financial Bonanza, Fontana’s lender.
For his part, Raicevic says he plans to meet with Graceland officials to discuss a possible sale or other arrangements.