Meghan Markle Uses Book Deal with Omid Scobie to Purchase Malibu Mansion

Reports have surfaced that Meghan Markle, along with her husband Prince Harry, is planning to sell their luxurious Montecito mansion and relocate to Los Angeles.

The Duke and Duchess of Sussex are said to be considering a move closer to Hollywood, where many of their celebrity friends reside, according to TMZ.

Although they haven't visited any properties in Los Angeles yet, sources claim that the couple is exploring various neighborhoods in their search for a new home in Tinseltown.

This potential move aligns with Markle's desire to make a comeback in Hollywood, as she has been expressing interest in returning to the entertainment industry in recent months.

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

Despite purchasing the property at a significantly discounted price, the costs associated with its maintenance alone have proven to be beyond their means.

With a mortgage of over $9 million, it is unlikely that they have built up any equity in the house.

Their lack of financial expertise, coupled with Markle's desire to keep up appearances, could potentially put them in a precarious situation if they were to refinance or take out additional loans.

The property itself has its own set of issues, including plumbing problems, a constant odor from a nearby bird sanctuary, and a history of mudslides on the land.

In fact, it took over two years to sell the property previously, and it was eventually sold at a reduced price by two-thirds.

Adding to their financial concerns is the implementation of a new millionaire tax in California, which may further complicate matters for the couple.

As a result, the Montecito mansion may either remain on the market for an extended period or be sold at a significant loss.

However, it has been revealed that Meghan intends to use the money from her book deal with Omid Scobie, titled “Endgame,” to purchase a mansion in Malibu.

Sources indicate that Meghan is entitled to 68% of the book's proceeds, including revenue from book sales and any potential film adaptations.

The remaining 32% belongs to Omid Scobie.

In her book, Meghan apparently places blame on King Charles for their Netflix deal, claiming that he cut off all their privileges and forced them to tarnish the royal family's reputation in order to secure funds for their American residence.

It appears that the couple may have underestimated the challenges they would face after signing their multi-million dollar deals, as they are now struggling to meet their obligations.

As a result, they are attempting to shift the blame onto others, particularly King Charles III, for their current financial crisis.

It seems that they indulged in extravagant spending following the signing of these deals, postponing content production and relying heavily on their newfound wealth.

Meghan's recent fashion choices, featuring expensive outfits from 2021, suggest that she may be resorting to wearing items she purchased two years ago when the deals were first signed.

Meghan and Harry currently find themselves in financial trouble, as they continue to spend money without generating substantial income.

Moreover, they may have to wait several years until the completion of the “Meet Me at the Lake” movie, which Netflix has already paid for, before receiving any additional payment.

Meanwhile, their mortgage payments, recurring expenses, and retainer fees are depleting their bank account, likely prompting them to sell their Montecito mansion and relocate to Los Angeles.

While they may try to present this move as an upgrade, it is expected that their next house will be less expensive than their current residence.