The Most Expensive Property Listed For $125 Million
If you check out the most expensive listing of real estate in Los Angeles, California, you would realize that it is not a home. On the contrary, it is just a plot of $125 million and comprises of undeveloped land in the midst of canyons. It is located in one of the most exclusive neighborhoods of the city.
Anyone who has the idea of putting in an offer there are few interesting things to do to get the life of a happy buyer. This is claimed by Camacho in the Huffington Post.
He said that none of the banks would offer a mortgage for 30 years on such an expensive property. In any case, if they did, the owner will have to pay a high amount of $514, 140 every month.
The plot was available in the market on Monday with a simple description. There is a 258+ acre land in prime Bel Air. There is a limitless and ultimate opportunity of development in one of the most prestigious communities in the country.
However, it is not as limitless as it has been described. Development on such a huge scale can be impeded by the wealthy neighbors. A homeowner in Beverley Hills Abdulaziz Al Saud discovered that there are legal battles with the neighbors over his plans. When it comes to real estate in Los Angeles, nothing at all is easy.