Same question with additional details.  What was their purpose in buying it?  Were they going to live in it, rent it, or flip it?  Did they make any improvements while they owned it?  How long between purchase and sale?  

It was just an investment property they hoped when it was finished, they could sell it or rent it out. 

They held it for 9 years.

Property is in India.

They had moved to the US and didn't want to be absentee owners.

The Condo was part of a large project.

Vacant?  For 9 years?  Were there assessments, taxes, utility bills?  Did they ever visit?  But stayed elsewhere?  Any family there?  But none of them came near it?  

But who are we to question it.  Leave that for IRS.  

If you haven't, you might just look into basis and depreciation.  Just to be sure you have a leg to stand on (in the US) for the loss.

What depreciation?

Never rented or used in a business.

Thanks for your help,

Christopher