Actor Michael Madsen is selling his 3,424-square-foot house on the beach in Malibu, Calif. in what his listing information is calling an "expedient sale necessary!" madsen-ii.jpgmadsen-i.jpgmadsen-iii.jpg Madsen, 49, wants $9,950,000 for the five-bedroom house at 31504 Victoria Point Road, which is on a gated street at Trancas Point. This is not the first time Madsen has listed the house--he had it on the market at some point last year, as we recall--but it is indeed the first time that he's listed it with such urgency. As the Real Estalker noted in writing about the listing on Monday, Madsen's agent initially had stated that the sale of the contemporary-style house, which is on less than a quarter-acre, must close escrow by May 16, 2007 or possibly by May 30, 2007 with a "fully executed purchase contract in hand and ALL contingencies removed." Now, the listing information makes no mention of specific dates and merely states that an "expedient sale" is required. Madsen purchased the house in 1999 from actor Ted Danson, according to public records. In fact, public records show that Danson--or rather, the "Edward Bridge Danson III Family Trust"--actually provided the original 1999 loan/mortgage to Madsen for the property. A little over a year ago, Madsen quit-claimed the house to a company called LA Speciality (sic) Properties LLC, according to public records. Madsen is shown in state incorporation records to be the owner of that property. That quit-claim action occurred just before a scheduled foreclosure sale for the house on Feb. 24, 2006. In considering all this information, we assume that Madsen 1) must be having financial problems; 2) transferred the house to a corporation last year to escape personal liability for not being able to make his mortgage payments; 3) was somehow able to gather enough money early last year to stave off the foreclosure sale; and 4) probably faces foreclosure again, given that listing information now states that an "expedient sale" is required. What puzzles us, however, is that Madsen is doing plenty of work, racking up credits in multiple movies and TV shows in 2006 and 2007. Still and all, the expenses pile up--"I've got a lot of chickens to feed, five kids," he told the Hamilton (Ontario) Spectator last year. "I'm like a farmer and I have to keep my farmyard happy." Built in 1976, the house has four baths, a sunroom, an open patio and a sauna, according to listing information. One fun fact about the house is that it was built by the late Keith Moon of the band the Who. Check out a listing sheet for the house here. We'll keep you posted on how successful Madsen is at unloading this house--and, where he ends up going.