Allen Iverson’s mansion sold out of Foreclosure

By Michael Garard • July 13th, 2011

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.

  1. They could be cured by the current owner
  2. They could be bought in a short sale transaction to a new buyer
  3. They could be sold to a new investor prior to the foreclosure sale date
  4. 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.

Call Michael at 303-888-2488, or email at mcgmhg@earthlink.net

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