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Terrell Owens

Takes $56k Hit

in Dallas Real Estate Deal

11/13/2011 6:00 AM PST BY TMZ STAFF

terrell owens crying
Terrell Owens just got his ass kicked in a real estate deal -- taking a $56k loss on a condo in Dallas ... TMZ has learned.

According to public documents, Owens paid $340,000 for the 2,600 square foot place back in 2006, right after he signed a $25 million contract with the Cowboys.

Owens no longer works in Dallas ... and probably won't ever work in Dallas again ... so he put the place up for sale.

Problem is, the real estate market still sucks ... and T.O. had to settle for $283,447 when he sold the place earlier this year ... a loss to the tune of $56,513.

It's just another hit for Owens, who's been trying to get his child support payments lowered since he has no NFL job and claims he makes absolutely no money.

For more sports stories, check out tmzsports.com!
20 COMMENTS

No Avatar
1.

sonny    

1st

1022 days ago
2.

Stiletto    

For a $340,000 property, he probably put more down than the $56K...probably pocketed a couple thousand even after closing costs and commission fees.

So, he managed to unload a monthly drain that would only worsen over time going by the RE market. The $56k was already gone...he just reduced his loss.

1022 days ago
3.

bunny    

Now he can pay child support for a couple months.

1022 days ago
4.

PT    

Hah! Owens losing $56K is like you and I losing 56c. Insignificant.

1022 days ago
5.

JDoors    

You guys phrased this as if it were a bad thing. He lost less than 20% while others are losing 50% or more. And even if you don't want to get into how the home sales market is going, selling a home shortly after you purchased it is going to cost you regardless of market conditions. He MADE OUT on that sale and you should have phrased it that way.

1022 days ago
6.

DudeLebowski    

He lost $56,553, not $56,513. Did any of you TMZ people make it past the fourth grade?

1022 days ago
7.

ChloeMarie    

Maybe he could sell his stupid looking earrings and pay his child support like a real man...

1022 days ago
8.

Bud    

What are you talking about? He gets to write the loss off. It was a job related. What I don't understand is why sports guys don't rent until they retire. Then settle down.

1022 days ago
9.

SistahSoul    

Oh how the mighty have fallen....

1022 days ago
10.

wuxewab    

chump change, he lost 1.2 million on this deal:
http://www.zillow.com/blog/2010-11-08/terrell-owens-sells-moorestown-nj-home-for-a-loss/

1022 days ago
11.

Joao    

Welcome, to the real world... everybody is being screwed in the real estate market. Celebrities are not exempt.

1022 days ago
12.

South Beach    

Waaa, way of the world these days. He should call Chris Tucker who just took a $4.6 MILLION bath on his place outside Orlando. He'll feel better.

1022 days ago
13.

Nefertiti    

If he wore a condom he wouldn't have all these support payments.

1022 days ago
14.

KnuckleDragger    

I think the new owners cut back on the price because the place smelled like black athlete! That's a hard smell to get rid of!

1021 days ago
15.

Tiggy    

aawwww, yep don't feel sorry for ya!!

1021 days ago
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