Jackson's executors took the 19 million pounds property off the market despite bids from several potential buyers including celebrity couple Jay Z and Beyonce, reported Daily Star.
Jackson's mother, Katherine, said they intend to purchase the 3,000-acre estate if they win their current civil case at LA Superior Court against entertainment giant AEG.
Katherine and Jackson's children Prince, 16, Paris, 15, and Blanket, 11, have already been granted the permission to re-open Neverland this summer. The family intend to spend a week in one wing of the dilapidated house.
They want to pay a private tribute to the singer on his fourth death anniversary. Jackson died at the age of 50 in June, 2009. "It was Paris who persuaded her grandmother and brothers that Neverland should never be sold and should always remain in family hands," a source said.
"She misses her father terribly and says the happiest time of her life was when she and her brothers lived with their father at the ranch. Katherine has agreed they should fight to keep it," the source added. The family would have to buy back the 15 per cent of the estate owned by a company that refinanced it to stop Jackson being evicted.
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