Allen
Iverson, then with the Denver Nuggets, tries a field goal over Luke
Walton of the Lakers at Pepsi Center in this April, 2008 Denver Post
file photo. (John Leyba, Denver Post file photo)
Former
Nuggets star Allen Iverson's Cherry Hills mega-mansion is under
contract and expected to close on April 8, but not before Iverson quit
paying the mortgage.
Iverson, who bought the 6,848-square-foot six-bedroom, nine-bathroom
spread for $3.875 million in January 2008, let the property in the Buell
Mansion subdivision slip into foreclosure on an outstanding balance of
$2,572,914 owed to Wells Fargo Bank, according to a Notice of Election
and Demand for Sale filed Feb. 28 in Arapahoe County.
Luxury real estate expert Edie Marks, who represents a buyer slated
to purchase the Iverson estate, said the property went under contract
before Iverson defaulted on the loan. The sale is expected to close in
early April for a price that "was close" to the asking price of $2.85
million, Marks said.
With this recent turn of events, what happens to the pending sale? It
can still go through as planned, but someone is going to be on the hook
for attorneys fees, foreclosure costs and default interest, according
to Denver real estate attorney Alan D. Sweetbaum — and that someone
likely will be Iverson.
"I'm surprised that Iverson did that, but the sale can still occur,"
Sweetbaum said. "It's unusual, and (Iverson) will (likely) end up
throwing away $10,000 on attorneys fees alone. He could pay or the buyer
could pay the amount that hasn't been paid to reinstate the loan."
Meanwhile, Iverson reportedly is convalescing in the United States
due to a calcium deposit in his right leg. Iverson was playing with
Besiktas of the Turkish League after failing to receive an offer from a
National Basketball Association team.
摘要:
大小: 6848 平方英尺, 6 間房間, 9 間浴廁
原價: $3.875 million
售價: $2.85 million
欠款: $2 million