Kim Zolciak and Kroy Biermann, the former reality star couple, have once again slashed the price of their Georgia mansion. The listing, which was previously at $5.5 million, has now been reduced to $4.5 million. This comes just a month after they lowered the price by $500,000 from its original $6 million.
Key Takeaway
Kim Zolciak and Kroy Biermann have once again lowered the price of their Georgia mansion, as they grapple with financial difficulties and the looming threat of mortgage foreclosure. The decision to sell the property is driven by their ongoing financial challenges, and the latest price cut reflects their urgency to find a buyer.
Financial Struggles and House Sale
The couple’s decision to sell their estate is linked to their ongoing financial troubles. They are facing multiple financial lawsuits, and the IRS is pursuing them aggressively. The sale of their mansion could potentially provide some relief, but finding a buyer has proven to be challenging.
It’s worth noting that the current listing price is still higher than the prevailing market rates in the area. Despite the price cuts, attracting a buyer remains a significant challenge for Zolciak and Biermann.
Impact on Personal Relationship
These financial challenges have also taken a toll on their personal relationship. Recent body cam footage revealed a heated argument between the couple, with Kroy attributing their financial struggles to Kim and making serious accusations against her.
Despite their strained relationship, they continue to reside together, and efforts have been made to ensure their children have a good Christmas despite the financial difficulties.
Financial Pressures and Mortgage Default
Zolciak and Biermann originally purchased the mansion in 2012 for $880,000, indicating a potentially substantial return on investment if they manage to sell it at the current reduced price. However, the urgency to sell is heightened by the fact that they have reportedly defaulted on their mortgage, putting them at risk of foreclosure by Truist Bank.
The hope now is that the latest price reduction will generate renewed interest in the property, as the couple navigates their challenging financial situation.
