On a Tuesday morning with the temperatures barely climbing above the freezing point, more than 100 people gathered on the steps of the Fulton County courthouse to bid on dozens of foreclosed properties.
But Kim Zolciak’s Milton home, originally scheduled to be part of that monthly auction, was not among them. For at least the third time, the couple’s mortgage holder Truist Bank pulled it from auction, allowing the former “Real Housewives of Atlanta” reality star and her husband and former Atlanta Falcon Kroy Biermann to keep trying to sell the home instead.
The seven bedroom, 11 bath home, which the couple purchased in 2012, is currently on sale for $3.65 million, down from $6 million when it was first introduced to market more than a year ago. Their mortgage has an outstanding balance of $1,129,097, which was originally at $1.65 million, according to foreclosurebidslist.com.
Credit: BRAVO
Credit: BRAVO
The property, as of Tuesday afternoon, was no longer listed on the foreclosure page of the law firm Brock & Scott, which represents Truist Bank.
Zolciak’s friend and real estate agent Jenny Doyle, who is trying to sell the property as the primary agent, declined to comment Tuesday.
Jimmy Baron, a local realtor with no connection to the home, said the house was overpriced when it came on the market more than a year ago. “That tends to stigmatize a home,” he said. “People assume something’s wrong with it. Not everybody is excited about a house with that history.”
He has yet to do a comparable sales check on that property to say if the current asking price of $3.65 million is reasonable or not though he said people who are shopping in that rarified price range typically want a house that is updated and move-in ready. “They don’t want to do a lot of projects,” he said.
The couple is in the midst of an acrimonious divorce. According to TMZ, the couple recently moved out of their Milton home and are living in separate rental units. Last Wednesday, Milton police were called and according to a police report obtained by TMZ, Zolciak accused Biermann of knocking her off a ladder while she was removing curtains from the house but she didn’t reveal any injuries and was contradicted by witnesses. No arrests were made.
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