Pull the full listing history: original list price, every price revision with dates, showing count, and whether any conditional offers were registered and then failed.

Green flags: One clean price drop after 45–60 days, reasonable showing traffic, no failed conditions.

Red flags: Multiple price drops, very low showing count despite weeks on market, one or more conditional offers that collapsed. Low showings despite price cuts means agents are steering clients away — often because they know something.

Pull 3–5 comparable sold properties from the last 90 days — same neighbourhood, same property type, similar size and age. Where does the new reduced price land relative to comps?

Scenario A: New price is 5–10% below comps → likely a genuine discount, possibly a motivated seller deal.

Scenario B: New price is at or slightly above comps → seller just corrected an overpriced listing. Fair market value, not a discount.

Scenario C: New price is still above comps → seller may still be unrealistic, or the property genuinely has issues that comp sellers didn’t have.

If Steps 1 and 2 both look reasonable, the final step is a thorough physical and legal check:

Physical: Order a professional home inspection — foundation, roof, HVAC, electrical panel, plumbing. For older homes (pre-1990), check for knob-and-tube wiring and asbestos.

Legal: Pull title, confirm no liens, check zoning compliance, verify permits on renovations. Unpermitted work is a common hidden reason properties sit unsold.

Disclosure: Ask for SPIS (Seller Property Information Statement) and read every “yes” answer carefully. “Yes, aware of water in basement” is a serious disclosure.

💡 Arthur’s Verdict