Price Lowered While Pending

Tips and Deals Forums Buying Your Home Buying a Home in Los Angeles Price Lowered While Pending

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    • #222872

      I am monitoring a house I was really close to putting an offer in on, but had reservations about the amount of work that was needed for the place AND the fact that there was so much stuff in the house, that the owner needed an extra week to clear a pathway (no i’m not joking) from the front door to all the rooms in the house. *I was scared of how much I COUDLN’T see under everything and how my inspection may be effected by the limited access of the current owners.


      It is a short sale and the house had amazing potential. *They had accepted someone’s offer and where waiting on the bank to set it as “pending.” *It went pending a few weeks ago and a couple days ago the price was lowered by $50,000. I didn’t put in a low ball because I thought they would never take it even though the house was in sorry shape.


      In a short sale situation, why would they lower the price on redfin while it’s pending? Don’t they usually only change the price if the offer fell through and is active again? *If the buyer got a lower deal, wouldn’t they just leave that for the “sold” price when everything is said and done? *Any insight on what *maybe that means would be appreciated. *

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