Full disclosure: I don’t actually have inside info here.
It looks to me like the list price was perpetually too high.
This deal was double ended which means the listing agent brought their own buyer.
It was also a short sale.
My guess is that the agent knew what the bank would likely accept and convinced his buyer to make a lowball knowing that he could slam it through the bank.
Then he left the price high while his patient buyer waited for the bank negotiations to play out.
There are no victims here but I think its a little unfair to leave a price noticeably above what you know the bank will accept.
