Allen Iverson’s mansion sold out of Foreclosure
On April 18, 2011, Allen Iverson’s mansion, which was previously in foreclosure, has been sold and closed to a new buyer for $2,550,000, and the transaction was Cash.
Many homes today that are in foreclosure have a high percentage of NOT returning back to the foreclosing lender.
- They could be cured by the current owner
- They could be bought in a short sale transaction to a new buyer
- They could be sold to a new investor prior to the foreclosure sale date
- They could be bought by an investor on the “county court house steps”
Currently in Denver, most “foreclosures” are being sold as a short sale. Keep in mind this does not mean that the home is sold at a bargain price, but probably will sold at today’s current value.
For more information on Allen Iverson’s previous home, see our previous blog about Allen Iverson’s mansion.
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