Plot of land listed for $1bn, sells for $100k

If it was actually worth $1 billion, then someone with say $300 million would have scooped it up, paid of the $200M debt, and then flipped it to double their money.

But like a lot of things, what people ask for and what is worth is often two different things. I mean, if it was worth $1billion, how did it get bought for $45 million the first time?

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