Pending on Grove Lane

25 Grove Lane, asking $3.950 million. 1979 construction, redone in 2018 and sold to these owners in July of that year for $4.2. They, in turn, listed it at $4.995 this past May, citing certain unspecified “renovations” to justify the price leap. Buyers were unpersuaded, and only when it dropped a million dollars did one appear.

An observation: a lot of listings these days go, as this one did, from “accepted offer” to “pending” (no contingencies) in just days. That doesn’t necessarily mean that the buyer is paying cash, but does signify that he’s not worried about obtaining a mortgage and thus doesn’t need the normal 30-day wait period to get a bank locked in. I mention this so that you normal folks will understand why a mortgage contingency clause in your offer may make it less desirable than other bidders’. Sucks being poor.