*Not even imprisoned NFL quarterback Michael Vick is immune to today's real estate slump. His Sugarloaf home is still on the market, and the athlete needs it to move quickly so he can fund his bankruptcy case and pay off his creditors.
The Atlanta Journal-Constitution cited court documents filed Monday showing that Vick seeks to retain a new real estate company – Braselton-based Funari Reality. His home, located at 2927 Darlington Run in Duluth, had been up for sale with the Waters Reality Group for $4.5 million.
Vick is said to have “substantial equity” in the home and a mortgage for $2,850,000, according to court documents. The sale of the property “would provide [Vick’s] estate with the opportunity to generate revenues for the benefit of the estate and its creditors,” according to the documents.
Funari Reality would be entitled to a four percent commission on the sale of the home, $180,000 if it sells for the asking price, according to the AJC.
The Atlanta Falcons quarterback is currently in federal prison on felony charges related to dogfighting.