Would this be a distressed property?
I've been looking at definitions on-line and am not sure if this would count. This is for a newish custom house built in 2008. A year or so after building, the gentleman lost his job. The house has now been on the market for around two years. The price has dropped $100K on a $550K house. I have not been in the house, but have been told that the house has some custom features that not everyone would like. I have no details on what the exact features are. I don't know if the owners have started a forclosure process or are behind on payments. My question is would this be considered a distressed property?