Michael Jackson’s Neverland Ranch Sells For $78M Below Asking Price After Five Years
The famous Neverland Ranch, owned by pop icon Michael Jackson, recently sold after being on the market for years.
The property located in Santa Barbra has changed back to its original name, Sycamore Valley Ranch.
The new owner, who also co-owns the Pittsburgh Penguins, purchased the estate for $22 million dollars, which is $78 million below the original sale price.
Sources say a few factors led to the property being sold for less include the reputation of the former owner, Jackson, and the changes made to the property.
Some of the changes that were made include the removal of the carnival rides, the electric train, and the zoo.
The main house that is 12,000 square feet still exists as well as several other amenities.
If you found out something unsettling about a home you want to purchase, would you still buy it?