Kim Zolciak and Kroy Biermann Knock $500K Off Listing Price in Desperate Effort to Sell Georgia Mansion
Kim Zolciak and Kroy Biermann are desperate to sell their Georgia mansion amid their divorce.
Dec. 19 2023, Published 7:02 p.m. ET
In a desperate effort to offload their mansion, Kim Zolciak and Kroy Biermann reduced their home's listing price by a whopping $500,000, RadarOnline.com has learned.
Cash-strapped Kim and Kroy, who are in the middle of a contentious divorce, initially listed the Georgia home for $6 million in October.
The on-again, off-again couple has dropped the listing price down to $5,500,000, according to TMZ.
While the home is certainly an iconic dwelling for Bravo fans, the price drop might not be enough to offload the home. When compared to other properties for sale nearby, including on the same street, the 15,694-square foot mansion is overpriced.
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The estranged couple purchased the home for $880,000 in October 2012.
Nonetheless, it appears Kim and Kroy are determined to make as much off the sale as possible, especially given their financial woes. In some regards, they're lucky to have the opportunity to sell it altogether.
The Real Housewives of Atlanta alum and former NFL player nearly lost the seven bedroom estate to foreclosure earlier this year.
Even with the listing price reduction, the home is reportedly overpriced compared to listings in the neighborhood.
- Kim Zolciak and Kroy Biermann List Georgia Mansion for $6 Million as Bitter Divorce War Heats Up
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- Bank 'Intends' to Foreclose on Kim Zolciak and Kroy Biermann's $5.5M Mansion After Exes 'Defaulted on Their Mortgage'
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According to Realtor.com, the couple faced foreclosure back in February which threatened to send the home to public auction. At the time, the Bravo star and her beau having money troubles, but a notice from Fulton County’s Truist Bank stated otherwise.
The document revealed that the sprawling mansion was set to be listed at public auction on March 7 due to the couple defaulting on a $1,650,000 issued by the bank for the home.
The couple nearly lost the home to foreclosure earlier this year.
Kim and Kroy initially purchased the home for $880,000 back in October 2012.
While it's true that the housing market has provided a substantial return on investment for many home owners that were lucky enough to purchase prior to interest rates skyrocketing, Kim and Kroy appeared to list the home for nearly double its current market value, which already increased exponentially since they first moved in.
In February 2023, Realtor.com estimated the home's value at $2,519,500. When comparing its estimated market value to the initially $6 million that Kim and Kroy asked for back in October. That's a difference of $3,480,500.
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As RadarOnline.com reported, during a recent explosive fight — which prompted one of their four boys to call 911 — Kroy screamed about their financial issues and how their lives had been ruined while an officer dispatched to the home attempted to calm him down.