Hollywood Hills is No Paradise City

Updated 1:18 PM PST, Mon, Jan 26, 2009

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LOS ANGELES -- Velvet Revolver guitarist Slash and his wife lost more than $500,000 in the purchase and subsequent sale of a Hollywood Hills home they allege they were duped into buying, the woman states in a sworn court declaration.

Perla Hudson's statements were filed in connection with a lawsuit she and her husband filed in November 2007 in Los Angeles County Superior Court and amended in mid-March 2008.

Real estate agent Gregory Holcomb and Sotheby's International Realty, named as defendants, maintain there was no way of knowing that the Multiple Listing Service description of the home was incorrect and that it was not actually on a private street.

The 43-year-old Slash, whose real name is Saul Hudson, became famous as the lead guitarist for Guns N' Roses. His wife's declaration is in support of the couple's opposition to a defense motion to dismiss portions of their suit dealing with alleged causes of action for fraud and breach of fiduciary duty.

A hearing on the motion is scheduled Jan. 23.

In her declaration, filed with the court on Friday, Perla Hudson says she and her husband closed escrow on the home in January 2006 for $6.25 million, then sold it in November 2007 for $5.725 million without ever moving in.

The couple lost an additional significant amount of money in carrying costs on the property, while Holcomb received a commission of nearly $124,000, the Hudsons' court papers state.

"I thought I had found a dream home when Holcomb sent me information about a house with spectacular views on what was purported to be a private street," her declaration says.

Although the street is gated, it is public and has very little parking, according to her statement.

The rocker and his wife also say the home was much smaller than 7,800 square feet, as listed, and that there were other issues with the title to the property.

In choosing a home, Perla Hudson says she and her husband also were concerned about security for themselves and their two young sons.

"In the summer of 2005 we were forced to obtain a restraining order against a deranged fan," her declaration states.