Burt Reynolds slashes $10m off Florida mansion price

Burt Reynolds has chopped $10 million off the selling price of his Florida home.

The actor has made the desperate bid in order to sell the property before it goes into foreclosure, according to the Daily Mail.

The 12,500ft waterfront mansion is now on the market for a bargain $4.85m, making it the sixth time the number has been cut down in five years.

In 2006, the 75-year-old listed the house in Hobe Sound for $15 million, later reduced to $12.9m.

In 2010, it returned to the market at $8.9 million, and in 2011 was listed for $5.2m.

However, last year it was reported that Reynolds was being taken to court due to unpaid mortgage instalments.

His lender Merrill Lynch demanded that he pay a further $1.2m, threatening to repossess the lavish abode if he didn't.

Meanwhile, Reynolds filed a counter lawsuit against Lynch, denying he had fallen behind with payments in the first place.