An off-market sale is a property transaction that happens when a property is sold without a public advertising campaign and therefore these homes do not have routine open inspections. The sale is often settled without many knowing the house was even up for sale. These types of property transactions are becoming more and more popular by utilising our Location One Buyers Agent services, we can put you in this winning position and help you acquire your dream home sooner.
Our established network and solid relationship with the selling agents puts us at a strong advantage and one step ahead of the crowd. By knowing about the silent or off market listings or being aware of properties that are coming to market, but have not yet been openly marketed, we put our clients in the best possible position to make a successful purchase. This is just one way our clients are having enormous success and buying their new home faster avoiding the common traps of wasting their weekends inspecting open homes, scrolling through the internet or being continually outbid at auctions.
So, what are the benefits of buying/ selling “off market”?
The benefits of buying off-market
From a buyer’s perspective, an off-market sale can simplify and hasten the process of buying your dream home. It is usually a smooth process and eliminates the potential to be in a multiple offer scenario. However, for a successful outcome it is essential that the buyer it is well prepared, ensuring that they know the current market, that their finance is approved (if needed) and that all due diligence has been completed. Off-market properties tend to sell faster than those that are publicly listed, so ensuring that you are all ready to go will make the process more streamlined and ultimately successful.
The benefits of selling off-market?
Homeowners may choose to sell their property off market because, they need to sell and settle quickly for personal reasons. This could be due to a separation or divorce, an illness, death or even financial strain. They could perhaps just be wanting to not have hundreds of people and neighbours traipsing through their house every weekend. Or maybe they just want to retain their privacy and not have the intimacy of their home splashed across the internet. People are motivated to sell off market for many reasons and their time frame and expectations will be relative to their purpose for sale.
Selling a home can be a stressful and anxious time so selling off market can alleviate some of these stressors and time restraints.
Our Top Tips for Buying Off Market Property
- Engage a Buyer’s Agent who will look after your best interests and ensure that all of the searches and due diligence on the property have been completed prior to putting in an offer.
- Ensure that your finance is all ready to go. This puts you in a strong position and sets you up for a successful transaction.
- If you are not using a Buyer’s agent, do your research and know the value of the property. Off market sellers will have a clear expectation of what they feel their property is worth.
- Complete your due diligence prior to placing an offer. Having no conditions on a contract is always more favourable to the seller.
- Be open to the terms of the seller. They may not have the same time frame as you. If you are flexible you will be more favourable to the seller as well.
If you would like more information on how Location One can assist you in finding your next home or investment property, please give us a call today on 07 3262 5311 for an obligation free chat.