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Old 09-23-2017, 04:53 AM
 
5,668 posts, read 7,258,650 times
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This can't be normal right?

I noticed this house when it was listed in June 2016 since IMO it was priced well below market value, although the listing did say it needed repairs.

https://www.redfin.com/NC/Charlotte/.../home/43946844

It went under contract within 2 weeks, however a year and 3 months later I'm pretty sure it's still showing up as under contract according to most websites, including a local one I use that I've found to be the most accurate. Realtor.com does show it as off-market but doesn't list a sold price.

I'm not trying to buy it, just curious if there's something weird going on.
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Old 09-23-2017, 06:01 AM
 
Location: Lakewood Ranch, FL
5,113 posts, read 7,639,834 times
Reputation: 5990
It might be a short sale that hasn't been resolved, yet. Or, it could be a probate issue or something similar where everyone wants to move forward once a legal stumbling block is cleared. I can think of other scenarios, too, including someone screwing up and not changing the MLS.
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Old 09-23-2017, 07:28 AM
 
6,359 posts, read 7,321,320 times
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Since realtor.com shows that the house is "Off Market", perhaps the owner decided just not to sell. It could be that, if it was under contract, that the buyers backed out after the inspection. Although the photos didn't show the need for any obvious repairs, they could have decided to do some repairs in order to get a better sales price. Lots of possibilities. But, yes, it would be unusual for a house to be under contract for over 15 months.

HOWEVER, when I read your title I thought that I could have written something similar. I just did a closing last week where it took over 15 1/2 months to get the contract to closing! That was the longest delayed closing I've ever experienced...and hopefully it will be the last!
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Old 09-23-2017, 07:43 AM
 
1,528 posts, read 724,410 times
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Quote:
Originally Posted by jackmichigan View Post
Since realtor.com shows that the house is "Off Market", perhaps the owner decided just not to sell. It could be that, if it was under contract, that the buyers backed out after the inspection. Although the photos didn't show the need for any obvious repairs, they could have decided to do some repairs in order to get a better sales price. Lots of possibilities. But, yes, it would be unusual for a house to be under contract for over 15 months.

HOWEVER, when I read your title I thought that I could have written something similar. I just did a closing last week where it took over 15 1/2 months to get the contract to closing! That was the longest delayed closing I've ever experienced...and hopefully it will be the last!
The dining room ceiling looks water damaged with a stain radiating from the far wall. It might be a simple issue but possible that the extent of the damage is either unknown or known to be pretty extensive. Or the source of the water may not have been identified and fixed, leading to even more uncertainties.

Speaking of ceilings, nice tall ceilings in that place.
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Old 09-23-2017, 11:17 AM
 
Location: NC
1,779 posts, read 858,251 times
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Sounds like it could be a short sale. When we were looking up here to buy, we looked at a house that showed it was active. It made our short list, though we could tell it had some deferred maintenance. A few months later, we went in and looked at it again (it had even more deferred maintenance) and removed it from our short list. Turns out, it was a short sale that had an offer on it from well over a year before. The buyers were willing to wait. While it was a nice, spacious home, it was going to need a decent amount of money put into it to bring it back up to even the asking price.
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Old 09-24-2017, 06:19 PM
 
16,484 posts, read 17,501,756 times
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I've seen houses under contract for 7-8 months.
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Old 09-27-2017, 11:35 AM
 
Location: Woodbridge, CT
46 posts, read 28,192 times
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Must be a short sale....They don't always take THAT long..but it happens....
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Old 09-28-2017, 12:12 AM
 
Location: Somewhere in America
12,305 posts, read 10,044,600 times
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Quote:
Originally Posted by just_because View Post
The dining room ceiling looks water damaged with a stain radiating from the far wall. It might be a simple issue but possible that the extent of the damage is either unknown or known to be pretty extensive. Or the source of the water may not have been identified and fixed, leading to even more uncertainties.

Speaking of ceilings, nice tall ceilings in that place.
Definitely looks like water damage. This could have caused the inspection to fail so it was pulled off the market. You can't go by Red Fin, Zillow, or Trulia for much. They all have a ton of incorrect info.
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Old 09-28-2017, 06:31 AM
 
Location: MID ATLANTIC
7,598 posts, read 17,614,249 times
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Rent to own?
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Old 02-23-2018, 06:27 PM
 
5,668 posts, read 7,258,650 times
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Bump...

Yes it's a short sale. I know they can take awhile but this seems extreme. Looks like it was updated today, but just says Under Contract again without going back to Active (or Off Market) at all as far as I can tell.
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