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Brittany Murphy Home Teeters on Foreclosure Sale (Photo)

The late Brittany Murphy’s mother Sharon Murphy has been pushed to the brink of a foreclosure auction on the Hollywood Hills home where her daughter died in December 2009.

Murphy’s husband Simon Monjack also died there last May.

The fate of the sprawling 8,000 square foot home, where Britney Spears and Madonna lived before Murphy bought it, has been the subject of dueling tabloid reports.

Among the latest developments, Sharon Murphy spokesman Roger Neal told The Hollywood Reporter that two “bonafide offers,” have been placed on the property. “There will be no (foreclosure) auction,” said Neal.

The house, at 1893 Rising Glen, was heading for the auction block, but a sale has been postponed until Feb. 14, in the face of heated behind the scenes negotiations, THR said.

Click photo to enlarge:

Neal slammed gossip Web site TMZ for an inaccurate report that the house would be sold at auction today. TMZ reported on the two week extension today.
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While the tragedy that unfolded at the five-bedroom, five-bath tri-level Mediterranean mansion is undoubtedly figuring into the difficulty in selling it, the overall California real estate market is still depressed.

Murphy bought the house with her daughter in 2003 for $3.85 million from Spears, who had lived there with Justin Timberlake and paid $2.97 million for it in 2001.

The 1.29-acre property went on the market in in March 2010 for $7.5 million. The asking price is now $4.65 million, just about enough to cover outstanding debt on the property.

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