Bass said he was told that another buyer -- perhaps a Hollywood studio -- was ready to buy the property “at any cost.”
Bass said after being told he was the winning bidder, he discovered that another buyer, possibly a Hollywood studio, was prepared to acquire the property "at any cost."
"They will outperform any bid with unlimited resources," he tweeted. "I'm hurt and saddened by this highly questionable outcome."
According to the listing, the 2,477-square-foot home, located at 11222 Dilling St. in Studio City, California, features three bedrooms, three baths and a 12,500-square-foot lot.
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"This iconic residence is reportedly the second most photographed home in the United States after the White House," the listing claims.
McCormick seemed pleased when she heard Bass had the high bid.
"Congratulations!" she tweeted to Bass. "May all your problems from here on out always be solved in a half hour."