Britney Spears Sells Beverly Hills Home For $1.25 Million More Than Asking Price
Perhaps the painfully public meltdown of Britney Spears in 2008 was best summed in paparazzi images of the pop princess strapped down to a stretcher and being carted out of her Beverly Hills home to the hospital. Turns out a house with that kind celebrity infamy is worth some money: $4.235 million, to be exact.
Since that 2008 incident, Spears has been under a conservatorship in which her father, James, has handled all of her legal and financial decisions. Through that arrangement, a hearing had been scheduled for today on that Beverly Hills abode, which Spears has tried unsuccessfully to sell on and off since 2008. With a modest $2.995 million price tag, the estate was slated for probate sale, subject to court approval, in which a hearing today would likely culminate in a bidding war for the home.
Turns out, however, that a bidding war wasn’t necessary to offload the 15,930-square foot home since an eager anonymous buyer placed an offer last month that was more than $1.25 million over the asking price. The court just approved the deal yesterday, according to TMZ, blessing the sale and canceling today’s hearing.
Tucked inside the exclusive gated community of Summit, the Mediterranean villa had been up snapped up by Spears for a hefty$6.75 million in 2007, during the height of the housing bubble. The singer reportedly bought it on a whim, fully furnished. The Summit Circle estate touts five bedrooms including a master suite with his-and-her baths and fireplace, a maid’s quarter, a backyard with pool and spa and a three-car garage. The home’s sale status is “in escrow,” according its listing with the Sanborn Team, a realty team specializing in probate sales.
Perhaps not surprisingly, Spears has not occupied the home since her stretcher stint. Instead she started afresh in a one-acre Calabasas, Calif. rental called Chateau Suenos where she hid out from paparazzi, investing $700,000 into property upgrades. She moved out of that house in early 2011 and shortly thereafter, the estate headed for non-distressed real estate auction.
Now that the sale of the Beverly Hills home is approved, Spears will reportedly live with Jason Trawick, her former agent-turned-fiance, in a rental until they find digs they want to buy. Their temporary home will likely continue to be the $25,000-per-month Thousand Oaks rental the celebrity songstress settled on in December. That manse, boasting 10,000-square feet of living space, touts an infinity pool, a gym, a home theater and a pub with billiards table.
Since the pop princess ascended to stardom in 1999, she’s had 10 homes, including six she has personally owned. You can further track the real estate wheeling and dealing of the songstress here.
Britney Spears Sells Beverly Hills Home For $1.25 Million More Than Asking Price – Forbes
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