Edmund Ford buys business property off auction

A property owner fed up with late payments put his building on the auction block.

The high bidder? It was Memphis city councilman Edmund Ford, who will now get to keep his business where it's been for years.

Edmund Ford was working at his funeral home when the building he leases went up for auction across the street.

"Things are going to be okay. Things are going to be good," he said.

But when the bidding started there were no takers. "Nobody wanted to bid on it, so I guess nobody wants to help me out and get me out of my misery," he said.

The property has been more trouble than its worth for owner Dennis Churchwell who was called to testify before a grand jury regarding Ford's formerly unpaid utility bills.

"I have had no problems with Mr. Ford from day one other than he's a little bit late on his rent but you know everybody gets behind," he said.

The auction was already over when mortgage broker Charles Monger showed up and made Caldwell an offer on behalf of Edmund Ford.

"$750,000," was the number extended.

It's a good deal considering the property is worth $1.4 million.

"I'm gonna arrange the loan for Mr. Ford and that's basically what I'm doing," said Charles Monger with Supreme Lending Group.

"I don't care who it's for if he's bringing me a $750,000 check. He can sell it to you," said Churchwell.

"I've been planning on trying to buy it all along so I mean so everything works out for the better and like I said, we own nothing, it's the Lord," said Ford.

Ford says it's time to shift the focus off of him and back on to the business of the city of Memphis.

Charles Caldwell says Ford's mortgage broker has agreed to meet with him on Wednesday to negotiate a contract.

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