Distressed sales and 9-figure discounts: Hard-to-sell mega-mansions find a last resort at real estate auction

by LBM Daily Editor 0 Comments

Econ & Housing
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An aerial view of the grounds of Villa Firenze in Beverly Hills, California.Concierge AuctionsWhen high-priced mega mansions for sale languish on the market — sprawling, flashy and unable to attract a buyer — some owners turn to a double-edged option: a real estate auction.The auction block can move trophy properties with nosebleed-worthy price tags quickly,…

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This article was originally published by Cnbc.com. Read the original article here.
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