Should I be concerned

Question

A question for any real estate persons out there: A tudor style home sells for 560k in 2022. In 2025 it is put up for sale for 450k (a 110k drop) It has gone pending 3 times since December but no sale. What sort of red flags does this raise? It’s been on the market for 300 plus days

Greg Scott · Answer

Here is what is likely happening.

The house is not worth $450K because it has a major problem.  People put in an offer and they find the problem upon inspection. Then they ask for a price reduction.  For some reason, the seller does not want to sell below $450K so rejects the buyer's offer and the deal falls apart.

I've seen this happen many times.

Janice Carter · Answer

That price drop and multiple failed pendings definitely raise flags. The most common issues are inspection problems, appraisal gap, financing fallout or a seller who is difficult during negotiations.

Yer Aled · Answer

The last people with a pending offerbacked out because of commute issues.not sure if this is a legitimate excuse toback out of an offer submitted

Jules Aton · Answer

Have your agent ask their agent what's up.

Caleb Brown · Answer

It can be a variety but most likely something with inspections and maybe a buyer had financing issues. It's important to look at how long it was under contract before going back on market. Typically inspections are done and negotiated 10-14 days within going under contract. If it falls through in that range it's most likely that. Once it goes beyond that it could be a financing issues (appraisal, buyers couldn't get approved) or a title issue. Obviously this is assuming, best way is to ask the agent why and for previous inspection reports.

Should I be concerned

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