Jennifer Lopez and Ben Affleck previously purchased the sprawling 12-bedroom, 24-bath estate for $60.8 million in May 2023.
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After only 100 days on the market, this lavish mansion was listed for sale for $68 million as they filed for divorce.
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According to Jason Oppenheim from the Netflix show “Selling Sunset,” Lopez and Affleck can rest assured that the slow start to sales is nothing to worry about, as he informed Realtor.com on Monday.
“It would be surprising if the house sold in less than 100 days,” he said. Most homes of this caliber are on the market for six months, and in many cases significantly longer.”
Although the property has been on the market for 100 days, experts explain that the number of interested buyers is limited mainly due to the significant financial commitment of such a luxury purchase. So.
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According to information from the publication, individuals with financial resources often explore several properties and delay purchasing in the hope that prices will decrease.
Additionally, homeowners must consider an estimated monthly expenditure of $283,666 for taxes, security costs and homeowners association fees.
In addition to Lopez and Affleck’s listings, other luxury properties also for sale are the Trousdale Estates mansion of sports equipment tycoon James Jannard. It is said to have been listed for 25 days longer than the property owned by the former couple.
The report also addresses a common strategy in the real estate industry, where properties are periodically pulled from listings and then relisted to shorten the total time they are for sale.
According to the Oppenheim Group co-founder, former partners should expect their finances to decline after the house is sold.
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“They will likely sell the house for between $58 million and $60 million, so they could lose a few million dollars on the sale,” he said.
As for the exact location of the property, Oppenheim said there’s a complicating factor Lopez and Affleck must contend with as they take their next steps.
He emphasized that the property is located in the Beverly Hills Post Office area, which is under the jurisdiction of Los Angeles and not the separate city of Beverly Hills. Therefore, they face a huge villa tax amounting to more than 3 million USD.
In his statement, he mentioned potential losses in excess of $5 million when commissions, taxes and other expenses are included.
After months of turmoil surrounding their two-year marriage, Lopez filed for divorce on August 20, 2024.
Keywords Jennifer Lopez Ben Affleck
Source: https://anhngunewlight.edu.vn
Category: Blog