Terrell Owens — Narrowly Escapes Foreclore in Dallas

Terrell Owens Dallas CondoAnother real estate debacle for Terrell Owens — who just struck a deal to sell his pimped out Dallas condo for $350,000 LESS than he bought it for … has learned.

Here”s the deal — Owens paid $1.95 for his 3,559-square foot Dallas condo back in 2008, when he was still with the “Boys … and pumped an additional $100k into the place for various upgrades.

But that was back when Owens had money …

Now, in the wake of his financial issues, Owens was forced to sell the place … but thanks to that pesky real estate bubble, it”s worth SIGNIFICANTLY less now.

So, Owens got his bank to accept a short sale on the pad … in which the bank agreed to take less money than what”s owed on the loan … and thereby avoided the pain in the ass foreclosure process.

has learned … some wealthy opportunist bought the place last month for $1.6 mil.

As we previously reported, T.O. took a $56,000 loss on another property last month … and he still has no job in the NFL.