Ed McMahon — who recently captured national media headlines because he defaulted on $4.8 million home loan — has found a buyer for his six-bedroom, five-bathroom Beverly Hills, Calif., estate, according to TheCelebrityCafe.com.

It’s great news for the 85-year-old iconic television personality who is perhaps best known for his role as an announcer on the “Tonight Show” with Johnny Carson for three decades.

Not only does he avoid foreclosure, but he also closes a deal to sell the $5.75 million home that has been more than two years in the making.

Speculation swirled that real estate magnate, television reality tycoon and author, Donald Trump, was the front runner to purchase the home from McMahon. He then intended to lease it back to him. However, it appears that the deal never came to fruition.

Instead, an anonymous buyer stepped up at the last minute. And according to the report, McMahon has six months to vacate the property and find new digs.

That’s apparently a good thing because McMahon was eager to move on. In fact, he had this to say about this situation in a recent interview with Larry King on CNN.com:

“It’s a combination, it’s like a perfect storm. Economy problems. Selling the house right now is a tremendous operation …. We’ve had this house on the market for two years. We’ve shown it, I don’t know how many, 50 organizations or people. Nobody has made an offer. I mean, it’s just a lovely home.”

It appears that all he needed was some very high-profile marketing to find the right buyer, bringing new meaning to the expression, “everything happens for a reason.”