Barack and Michelle Obama reportedly are in escrow to buy a stunning, cedar-shingle estate on a private cove in Martha’s Vineyard.

The former president and first lady rented the 29-acre compound over the summer from Boston Celtics owner Wyc Grousbeck and loved it so much, they made an offer, sources told TMZ.com.

The property, listed at $14,850,000, boasts seven bedrooms, eight bathrooms, a fireplace in the master suite and a deluxe outdoor entertaining space complete with a pool. Its wrap-around lawns sprawl to the edge of a massive pond just steps from the outer barrier beach.

Attempts to reach reps for the Obamas were not immediately successful Wednesday, and the realtors behind the listing did not return calls seeking comment.

TMZ’s sources said the purchase depends on some contingencies, so it wasn’t a done deal as of Thursday.

A Martha’s Vineyard source told the Daily News that the Obamas were known to be staying at Grousbeck’s property this year and are longtime regulars in the summer playground to the rich and famous.

The source said it was local chatter that the famous couple also showed interest in buying a portion of Jackie Onassis’ massive 340-acre Red Gate Farm on the western tip of the island known as Aquinnah.

“People love the Obamas on Martha’s Vineyard,” the source said.

“They’re out a lot, always very nice,” the source said. “We have a lot of dignitaries and famous people, so it’s no big deal. You are who you are. We’re not all running to Farm Neck to see if Obama is playing golf. If you see him, it’s great. But it’s very relaxed and all about family.”

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