Vancouver real estate: mansion takes $2.8 million price cut before selling at reduced $8.1 million tag

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      A Vancouver mansion sold not only below its 2020 B.C. Assessment value.

      The South Granville luxury home also absorbed nearly a $3 million price reduction before the deal got sealed.

      The residence at 5811 Churchill sold on November 5 for $8,152,381.

      Luxmore Realty listed the five-bedroom-plus-den and seven-bath house on October 8 for $10,990,000.

      The listing was terminated on the same day, and new one came up also on the day for a reduced price of $9,980,000.

      Compared to its original tag of $10,990,000, the final selling price for the property represents a$2,837,619 reduction.

      The transaction was tracked by real-estate information site

      B.C. Assessment placed the 2020 value of the mansion as of July 1, 2019 at $8,192,000, which is slightly higher than the selling price.

      In the previous year, B.C. Assessment estimated the value of the property at $7,624,000.

      The home features a living area of 5,193 square feet.

      Amenities include an outdoor swimming pool, sauna, wine cellar and other luxury features.

      The mansion sits on an 11,374-square-foot lot.