Kim Zolciak and Kroy Biermann’s Home Sells for Loss After Foreclosure.
Kim Zolciak and Kroy Biermann's mansion in Georgia has officially been sold, concluding a prolonged struggle by the former couple to prevent foreclosure.
As reported by TMZ, the property was acquired for $2.75 million last month, representing a significant discount from its original listing price of $6 million in 2023. Although this sale amount is considerably lower than what the reality television stars had anticipated, they still realized a profit, having purchased the residence for under $900,000 in 2012.
The home was initially set to be auctioned this year; however, Kim and Kroy reportedly secured a buyer in December, allowing them to finalize the sale just in time. They narrowly evaded foreclosure on several occasions concerning this property.
This real estate transaction marks the latest development in the ongoing financial challenges faced by the Kroy-Biermann family. Recently, it was disclosed that Kim's divorce attorneys had placed a lien on the Georgia residence, with Snider & Snider PC asserting that the Real Housewives alum owed over $55,000 in outstanding fees to their firm.
Kim and Kroy first initiated divorce proceedings in May 2023, but the process has been fraught with difficulties. Both parties have refused to vacate their shared residence in Georgia, despite their separation, resulting in numerous allegations and interventions from authorities regarding domestic violence. Additionally, Kim and Kroy have leveled accusations of theft against one another.
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The television personalities, who are parents to six children, are also facing significant financial challenges. Reports from December indicated that Kim's bank account was subject to garnishment due to an outstanding debt to American Express. This debt, which dates back to 2018, reportedly exceeds $215,000, with claims that she has not made any payments. Consequently, the court granted permission to garnish her Truist Bank account.
American Express is likely pleased with the recent developments in real estate, as they will be able to recover the debt once their Georgia property is sold. Earlier in January, they had already filed a separate lien against the house for $77,000.
At one time, it was reported that Kim and Kroy's combined net worth stood at $8 million. Kroy has accused his former spouse of having a compulsive shopping habit, while she has resorted to selling items online to alleviate her financial burdens. The divorce proceedings continue, and it appears that Kim may be seeking new legal counsel.
Despite facing significant financial struggles and a highly publicized divorce, Kim Zolciak and Kroy Biermann were able to successfully sell their Georgia mansion for $2.75 million, ensuring they avoided foreclosure. While the sale price was lower than originally anticipated, it still reflects a profit from their 2012 purchase.
This marks a positive step forward as they continue navigating their personal and financial challenges. Though the couple faces ongoing hurdles, this transaction provides some relief as they work toward resolving their debts and finding stability. It’s a small victory amidst the difficulties, allowing them to move forward.
