Former NBA star Allen Iverson's foreclosed home to be sold for $2.85M

The home of Allen Iverson, the former NBA star and current player for Turkish team Be?ikta?, is in foreclosure.

Situated in Cherry Hills, CO, the 10,455 square-foot mansion with 6 bedrooms and 6 baths
fell into foreclosure in late February when Iverson defaulted on his mortgage payments, according to the Denver Post.

Peculiarly, this happened after the estate went under contract with a buyer, who is expected to pay a price that was close to the asking price of $2.85 million.

I'm surprised that Iverson did that, but the sale can still occur, Denver real estate attorney Alan D. Sweetbaum told the Denver Post. 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.

The property features an extensive security system, gourmet kitchen, safe room, open media area, wine room, seven gas fireplaces, outdoor play area, and lake views.

Iverson bought the home for $3,875,000 in 2008 when he was playing for Denver Nuggets.

Click Start to view the home.