Meghan Markle Uses Omid Scobie’s Money and Book Deal to Purchase Malibu Mansion

Meghan Markle and Prince Harry are reportedly considering selling their luxurious Montecito estate and relocating to Los Angeles, as per TMZ.

The Duke and Duchess of Sussex are exploring the idea of moving closer to Hollywood, where many of their high-profile friends reside.

While they have not yet visited any properties in Los Angeles, sources indicate that the couple is exploring various neighborhoods in their quest for a new home in Tinseltown.

The potential move aligns with Markle's reported interest in making a comeback in Hollywood.

However, a source close to the couple's friend revealed on Blind Item that the Montecito house does not belong to Meghan and Harry, making it impossible for them to sell it.

Despite being purchased at a significant discount, the property stretched their finances due to maintenance costs.

With a mortgage exceeding $9 million, it is unlikely that they have built any equity in the home.

The couple's financial challenges, compounded by the property's issues such as plumbing problems, odors from a nearby bird sanctuary, and a history of mudslides, may prompt them to sell the mansion at a loss.

In light of California's new millionaire tax and the property's prolonged listing on the market, the Sussexes face the dilemma of holding onto the estate or accepting a substantial financial hit to divest themselves of it quickly.

Nonetheless, Meghan is poised to utilize the proceeds from her book deal with Omid Scobie for “Endgame” to acquire a new residence in Malibu.

Reports suggest that Meghan is entitled to 68% of the book's earnings, encompassing her contributions to the plot and script, as well as revenue from book sales, while Scobie retains the remaining 32%.

In her book “Endgame,” Meghan reportedly implicates King Charles in the Netflix deal, attributing their financial struggles to the royal family cutting off their privileges.

The narrative suggests that the Sussexes resorted to tarnishing the royal family's reputation to secure funds for their American residence.

The couple's inability to deliver on their lucrative deals has led them to shift blame onto others, particularly King Charles III, for their current predicament.

Their lavish spending habits, evident in Meghan's expensive wardrobe choices from 2021, coupled with delays in content production and limited earnings from their Netflix projects, have strained their finances.

The prospect of waiting for the completion of the “Meet Me at the Lake” movie to receive payment from Netflix further exacerbates their financial woes.

As ongoing expenses deplete their resources, the sale of the Montecito mansion and a potential move to Los Angeles may represent a strategic financial decision, albeit one necessitated by their precarious financial situation.