EXCLUSIVE: Heidi Klum and Seal Scoop Up $13 Million Foreclosed Property

Courtesy of Hilton & Hyland

The 12,300-square-foot Mediterranean residence in Brentwood is featured in this week's The Hollywood Reporter.

Heidi Klum and Seal are purchasing a stately eight-bedroom home in Brentwood that had been foreclosed on earlier this year. The asking price for the property -- $13.4 million.

The house, formerly owned by an investment banker, was placed on the market Oct. 15 after failing to sell at a June auction.

The 12,300-square-foot Mediterranean residence is situated in Brentwood Country Estates, a gated community of a dozen houses in Mandeville Canyon where the neighbors include Gov. Arnold Schwarzenegger and Maria Shriver.

The eight-bedroom home has a kitchen that includes a fireplace mantel imported from Scotland that dates to 1603. The formal dining room is from Paris’ famed Pierre Hotel, which the former owner purchased whole at auction and had shipped stateside. And the library fireplace is said to be from Napoleon’s farmhouse in France.

Klum and Seal’s property is under contract for an undisclosed amount and they are expected to close the deal as soon as Dec. 1.

While declining to discuss the buyer identities, Rebecca Ross, a Hilton & Hyland agent who had the listing, said that the house sold for  “significantly more than the asking price” of $13.4 million.

“There were multiple buyers interested, so there was a bidding war," says Ross.

For more of this article, pick up a copy of The Hollywood Reporter on newsstands. Subscribers can read the entire article discussing high-end foreclosures by clicking here.