Hulk Hogan backs out of condo deal with Linda Hogan.

Posted on June 24, 2008

Hulk Hogan & Linda Hogan during happier times.

Hulk Hogan has refused to honor an agreement made to buy a $4.2 million condominium with Linda Hogan. The deal was struck before the celebrity couple started divorce proceedings.

Hulk Hogan, aka Terry Bollea, filed his papers in Florida. He asked the court to allow him to back out of his obligation to buy the condo. The apartment was bought in April 2007, before the couple decided to divorce each other.

Hulk claimed that his career has been affected by his divorce. He said the economy has changed. A new appraiser evaluated the condo and found it to be $1 million less than the appraiser Linda used. He gave all these as reasons to back out of the deal. Hulk agreed to lose their $840,000 down payment to avoid paying for the full cost of the condo.