The bank is a motivated seller. They “must-sell”, and they must sell right now. Their problem is that there are two other active listings of homes in the same size/age range in the area; one at $545k and another at $557k. Tha bank has priced this home so that if there is to be a sale among these 3 homes their property will be the one to sell.
At this point, nothing else really matters. The loan on this property is/was $520k, and it costs them money to carry a vacant house. Not counting the costs to foreclose on the house, they’re probably losing ~$3,500/month on this loan (taxes, insurance, maintenance fees, etc). For every 3 months it sits on the market their losses increase by $10k. They can’t afford to be wishy-washy in their marketing.
