It's never a good thing to have to list your house for less than what you paid, so let's pass the tissues to pop star Rihanna who just listed her Beverly Hills home at $4.5 million. She bought it two years ago, paying $6.9 million for what was then a newly constructed eight-bedroom mansion.
The home is described in the listing as a "major fixer" with "extensive damage from moisture and water intrusion" at the roof, windows, doors and decks. The property will not qualify for bank financing, says the listing. Finding a cash buyer in this price range might be, uh, challenging.Last August, it was widely reported that the four-time Grammy-winner (pictured at left) had filed a lawsuit against the property developer claiming that design and construction defects repeatedly allowed rainwater to seep in.
So if you don't mind getting wet, the 8,520-square-foot contemporary home has a den, media room and three fireplaces and sits on a three-quarter acre tract with a pool.
John A. Woodward of Coldwell Banker's Beverly Hills north office and John Galich of Rodeo Realty share the listing agents.
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