Britney spears has at last managed to sell her luxury home in Beverly hills. The sales process has been convulsed by undergoing six price cuts and a sale nearly 45% below the asking price, which leads to an analysis of several failings throughout the transaction.
Britney spears bought her home in January 2007 $6.75 million. The time of purchase does not seem the most suitable, because prices had peaked in the U.S.A., and were starting to slip close to 200% in 10 years
The singer was hoping to find peace and tranquility in her home, but the choice was inappropriate. The house became ground zero for the paparazzi, who roamed for hours in front of her house.
In september 2008, a year and a half long after her purchase, she decide to rearrange her life and put the house up for sale. Although the price of housing had a tour down in the US, the starting price chosen was $7.9 million (17% above the purchase price).
The recommendation of Mauritius Umansky, co-founder of the real estate broker agency, indicated that the starting price should have been below the purchase to make it attractive and try to create a dispute between the house buyers.
The final price announced was $4.47, which is 45% less than the asking price.
