Celebrity real estate properties are listed in the market everyday for several reasons, and one of these reasons is divorce. Like ordinary people, Celebrity couples in Hollywood end up in separate ways, and of course sell their conjugal properties.
It might be out of curiosity that people want to know how celebrities divide their real estate when they get divorced? As a listing agent, would you mention the names of the celebrities or even the word celebrity in the listing description?
L.A Confidential Magazine says "for every LA divorce, there's a lawyer and a real estate agent on speed dial. Divorce and, ultimately, death are good for business for Realtors, although listings related to those life events tend to be laden with emotional baggage."
In dividing properties in general, the spouse who is not presently residing at the home is the one that is very keen to close the sale. It is absolutely a very emotional process, which can either bring out the best and the worst in people involved. At times, selling a real estate property because of divorce is challenging in a sense or worst really very difficult even if couple separates amicably. Sally Forster Jones, Aaroe International Luxury Properties president, says "the situation frequently deteriorates." It is also noted that "the distrust between parties can result in both engaging their own agents, adding another layer to the negotiations."
On a different light, how would you sell this type of property? Would the uncoupling of the Hollywood celebrities make it difficult to sell the home? Realtor says that one way or another it might affect the sale. Other reason why some real estate celebrities properties linger in the market is that "buyers who may be wary of the very public emotional baggage of a celebrity split, or of being a destination on a movie star homes tour." If the house is sold in a rush, the worth of the property might also be affected.
For example, "when Drew Barrymore split from her husband of one year, they listed their home for $7.5 million; it sold for $6.35 million." Similarly, Josh Hamilton- outfielder of Angels, has listed his property in Newport Coast, CA, for $16.5 million in April. However, the price has gone down to $15,888,000. The only exception in this case is the property of Antonio Banderas and Melanie Griffin. When the two got divorced, they have sold their home for $16 million, just a hundred thousand short from its original price of $16.1 million.
Do you have some tips in selling properties especially those from celebrities who have gone through a divorce? Share your tips and advice below.
