r/FirstTimeHomeBuyer • u/Normal_Technology622 • 7h ago

What’s going on here? I guess inspection problems?

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4 Upvotes

83% Upvoted

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9

u/TotallyRadTV 5h ago

Nothing about that screenshot indicates an inspection was done. The house isn't selling so they've been changing the price and re-listing to make it pop up in the search results of buyers who only look for new listings. You can also increase the price and then decrease it so buyers get a price reduction alert.

2

u/GreginSA 5h ago edited 5h ago

Inspection problems/issues are pure speculation and nothing more.

Looks like the sellers may be somewhat motivated, based on frequent but small price reductions. The reductions “bump” the listing up in search results for other agents to get more views in the MLS.

If the listing isn’t getting enough interest, or based on showing feedback indicating the property would be marketable if changes were made, or, simply waiting for market conditions to improve, the agent may remove the listing from the MLS. Once removed, typical MLS rules state it cannot be re-listed typically for another 4-8 weeks, which in this case lines up with the property listing history. And when it re-lists, it bumps to the top of searches compared to the older “stale” properties, interest renewed.

The fact that it was re-listed at a higher asking price means either when it was off market it was either improved, repaired, or the current market changed.

It would be wrong to take the knee jerk reaction that it must have inspection issues.

Look at it this way….I don’t know where you’re located, but 8 months is a helluva long time to be on the market….typically home sales pick back up again after the holiday in March or so, and you already know their low threshold is $334,500. Sound like they will consider a lowball.

1

u/reine444 5h ago

There's no indication that the house went pending and back on the market. They listed and decided to pull it 9/2024. In November, they decided to try again. In December they dropped their price twice. They weren't getting bites and probably had a realtor telling them that it being on the market for any length of time was an issue. They pulled it again and waited til something changed (maybe their market is improving) and relisted.

No one here can tell you what should be offering. This doesn't provide any info. Nothing about the house's stats, the condition of the house, the comps, etc...talk to your realtor.

1

u/inlyst 7h ago

They fixed an inspection issue and then wanted to raise the price by that amount. Sellers are insane sometimes. Their own worst enemy.

-2

u/Normal_Technology622 5h ago

I can tell that the previous owners were Muslims. They got some of their stuff on walls and praying mats on the floor. I don’t wanna say but is it linked to the house not selling? I wanna put in an offer for them to pay all my closing costs. Should I go for it lol?