Lori Loughlin Sells Her Bel Air Mansion Below Asking Price Amid College Admissions Scandal
Whatever the reason for selling a home, there is almost always negotiation involved. The price listed is often not the price at which the home is sold. A realtor can definitely help a seller price a home and maximize the sale, but sometimes there are circumstances that cause sellers to sell a home for either a lot more (like a bidding war) or a lot less (the need for a quick sale).
Fuller House star Lori Loughlin and her fashion designer husband, Mossimo Giannulli, bought their home in Bel Air back in 2015. They paid $14 million and ended up spending way more in renovations. The 12,000 square foot Mediterranean style home is located in Bel Air and overlooks a golf course.
We’re pretty sure when they bought their home they weren’t planning on selling it because they were facing jail time, but here we are. After months of pleading innocent in the college admissions scandal, they finally pled guilty in May of this year, admitting that they spent hundreds of thousands of dollars to get their daughters into the University of Southern California.
Watch the video below for more details about Loughlin and Mossimo’s current situation.
The couple recently listed their Bel Air home for sale for a whopping $28.7 million, but they sold it at a very steep discount. Variety reports that the sale price was $18 million, and the lucky new owner is Tinder co-founder Justin Mateen.
Mateen is a native to Los Angeles, and he owns several other properties in the LA area.
Although $18 million sounds like a lot of money, the steep discount is notable. Besides selling off their home, they have also ended their membership at the Bel Air Country Club.
It is expected the Loughlin will spend 2 months in jail and Mossimo will spend 5 months in jail. We don’t know where they plan to move after their sentence is complete.
Does it surprise you that Loughlin would sell her home at such a huge discount? Do you think she’ll really end up going to jail?