Jennifer Lopez and Ben Affleck previously acquired their expansive 12-bedroom, 24-bathroom estate for $60.8 million in May 2023.
After just 100 days on the market, the lavish residence is listed for $68 million as they move forward with their divorce proceedings.
According to Jason Oppenheim from the Netflix show "Selling Sunset," Lopez and Affleck can rest assured that the slow start of the sale is nothing to be concerned about, as he informed Realtor.com on Monday.
"It would have been surprising for the house to sell in less than 100 days. Most homes of this magnitude are on the market for six months, and in many cases significantly longer," he said.
Despite the property being on the market for 100 days, experts explained that the limited pool of interested buyers was mainly due to the substantial financial commitments of such a luxurious purchase.
According to information from the publication, individuals with financial resources often explore several properties and hold off on purchasing in hopes of a price decrease.
Additionally, the homeowner must consider an estimated monthly expenditure of $283,666 for taxes, security expenses, and homeowners association fees.
Aside from Lopez and Affleck's listing, other luxurious estates up for sale is the Trousdale Estates residence belonging to sports gear tycoon James Jannard. It has reportedly been listed for 25 days more than the property owned by the former couple.
The report also mentioned a prevalent strategy in the real estate industry where properties are periodically withdrawn from listings and then re-listed to shorten the total duration they have been advertised for sale.
READ MORE: Jennifer Lopez Didn't Want to File for Divorce From Ben Affleck But Felt Cornered: Report
According to the Oppenheim Group co-founder, former partners should anticipate decreased finances once the house is sold.
"It's likely they will sell the house in the $58 million to $60 million range, thus they could lose several million dollars on the sale," he said.
Regarding the estate's precise location, Oppenheim said a complicating factor facing Lopez and Affleck as they go through their next steps.
He emphasized that the property is situated within the Beverly Hills Post Office area, falling under the jurisdiction of Los Angeles rather than the distinct city of Beverly Hills. Consequently, they are facing a hefty mansion tax exceeding $3 million.
In his statement, he mentioned the potential loss exceeding $5 million when factoring in commissions, taxes, and other expenses.
After months of buzz surrounding their two-year marriage, Lopez filed for divorce on August 20, 2024.
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