406. This Building Hasn't Sold in 400 Days. Why?

Key TakeawaysA stale listing isn’t automatically a bad deal. A property sitting for 400+ days has already received feedback from the market—and that can create negotiating leverage.There are four common reasons properties sit: incorrect pricing, financing challenges, property-specific problems, or poor marketing.Know what you can fix. Bad marketing, incorrect asset categories, missing photos, unrealistic pro formas, and certain financing issues may create opportunity; environmental, structural, title/access, zoning, and functional-obsolescence issues can be much harder to overcome.Investigate the seller’s position. Tax records can reveal what they paid and help you understand their basis, potential debt situation, and how motivated they may actually be.Calculate the cost of waiting. Taxes, insurance, utilities, upkeep, and debt service can cost an owner thousands each month while a property sits—which can become leverage in your negotiation.Underwrite stale listings systematically. Tyler looks at days on market and price changes, price per square foot versus comps, required rent, competing supply, listing photos/marketing, and the seller’s basis before deciding whether there’s an opportunity.