The home of former Charleston official Danny Molony, who did time in prison for stealing from the city, was sold on the courthouse steps Tuesday as part of the city's ongoing effort to recoup the funds, but instead of getting money from the sale, the city ended up buying the house.

As the high bidder at the Master in Equity sale, Charleston will need to come up with $311,800 to pay off the mortgages on the house in Mount Pleasant, and the court costs. The city had hoped that someone else would buy the house, which was listed for sale last year for $750,000.

"We do own a house in Mount Pleasant with the hope that we will quickly sell it and realize some proceeds," said Susan Herdina, an attorney for the city who attended the sale.

Read more in Thursday's editions of The Post and Courier.