Michelle and Barack Obama scoop HUGE mansion for $11.75m - $4.5m below the asking price.

BARACK and Michelle Obama have splashed out a staggering ($11.75million) for their brand new Massachusetts mansion after scooping it for($4.5million) under the asking price.
The former President and First Lady are now the proud owners of a palatial home in the eye-wateringly expensive Martha’s Vineyard, set in 6,892 sq ft of sprawling land in the US, The Sun Online reports.
It is reported the couple even tested out the seven-bedroom property before exchanging contacts.
The listing agent said previously: “It’s a remarkable home on an absolutely gorgeous setting.
The Obamas are already regular visitors to the area having spent time there during various holidays.

They visited the region when Barack was a Senator and then spent eight Augusts there when he was in the White House.

They holidayed in rented mansions in Chilmark, in the west of the area, at a reported cost of($50,000) weekly.