THE loan used for the mystery sale of tennis ace Serena Williams’ 𝘤𝘩𝘪𝘭𝘥hood home could suggest the house is being flipped to sell again, an expert has said.
The star’s father, known as “King Richard,” and his wife, Lakeisa Williams, fought for years over the house in West Palm Beach, Florida, before it was sold earlier this year.
King Richard no longer lives in the home where the Williams sisters grew upCredit: Stuart McClave/Popcorn
The home has been lying empty for yearsCredit: The U.S. Sun
The couple was in a years-long legal battle after ex-ᵴtriƥper Lakeisha, 45, allegedly tried to steal the home from Richard through forgery.
Amazingly, the legendary tennis coach, 82, and his much younger spouse are still together in another Florida home after she admitted in court documents to faking his signature on the title deeds.
Lakeisha then allegedly transferred the home into her name and took out a risky $279,000 loan with “hard lender” David Simon, which she didn’t pay back.
After reconciling and calling off their divorce earlier this year, they ended up selling the home to a man linked to Lakesiha as they wanted to “keep it in the family.”
In a seven-year court battle to retrieve Simon’s cash, Lakeisha managed to avoid foreclosure on the property at the very last minute – selling it for $1.2 million to an associate of hers.
The new owner, Darrious Christian, who purchased it through a newly set-up business, Hardy Firm LLC, has a debt-strewn past and took out an unusual $600,000 two-year home loan with a mystery individual named Joshua Perdomo, The U.S. Sun revealed.
Christian lived at the same address as Lakeisha and a woman believed to be her aunt.
To add to the confusion, Richard’s son Chavoita Lesane exclusively revealed to The U.S. Sun at the time of the sale that Lakeisha had saved the house from being sold.
He said: “I won’t lie, the house itself, a lot of work needs doing on that place.
“But they’re definitely not selling it. He wants to keep it. I already know that. My dad loves the house. It’s very sentimental to him.”
Chavoita also now insists that nothing is happening with the home when asked by The U.S. Sun about the loan.
Lindsay Fanali, Strategic Real Estate Advisor at Real Estate Bees, has studied the situation and says the type of loan that Christian took out with Perdomo is common for renovations.
He added it is predominantly used for quickly fixing up a home and selling it within “a few months.”
He claims this could pave the way for Richard and Lakeisha to buy it back.
She reportedly made a near $500,000 profit on the sale and would have ample money to put down a deposit.
“It is common for investors to borrow money from an individual instead of a bank,” Fanali told The U.S. Sun
“Although it is a risky option, real estate investors prefer to seek out wealthy individuals to fund their deals and this could be for several reasons, including to fund a certain loan type like the one in this case.
“The loan type is common to fix up a property and make renovations,” Fanali added.
“The loan that the buyer took out for the property was originated by an individual and the loan type was an open-ended mortgage.
“This is a loan that is made to fund any repairs or renovations done by the owner and will be paid back within two years.”
He claims this indicates an owner is “planning to fix the property up and sell it for a profit within the next few years, most likely in the next few months, and most commonly known as a fix-and-flip.”
“I did not find much information on the individual Joshua Perdomo either,” he explained.
“But he is most likely a friend or previous business partner of the purchaser, maybe another investor or newer investor, that is part of the buyer’s network with enough cash to fund the deal.
“These are likely both newer investors who have seen an opportunity and found a way to get the deal done together.”
The old home Richard once owned is considered empty and in terrible condition, although some of the roof has been fixed, according to his son.
Lakeisha admitted to forging Richard’s signature and had the property transferred to her before taking out a loan, according to court documents.
She could not pay back the loan, which almost saw the house auctioned off in a messy legal battle over the $436,000 she owed to Simon.
The house was saved from foreclosure at the last minute, buying it for $1.2 million just days before a court-ordered auction.
This meant that Lakeisha’s debt was paid off—and she is even believed to have made a nearly $500,000 profit from the sale.
Richard Williams and Lakeisha Graham, pictured in 2010, called off their divorced earlier this yearCredit: Getty