When to Choose an Off-Market Sale
What is an Off-Market Sale?
We all take different journeys reach the point where it’s time to sell up and move on. Whatever your reasons or the path you’ve taken, there’s going to be a preferred method for selling your home. One method a lot of people turn to is an off-market sale, which is when a property doesn’t go through a full public advertising campaign. It’s not listed online or in the paper, but rather it’s up to the real estate agent to use their network of contacts and their skills to find a suitable buyer.
This method can be suitable in a number of situations, especially if the vendor doesn’t want a lot of attention drawn to the fact that they’re selling their home. It can also end up being a much faster process than putting the home on the open market, because your agent might already have a buyer ready to go. A concern that is often raised is you’ll end up selling your home for much less than it’s worth. But if you do your research right and choose an experienced agent, you’ll know what’s a fair price for your home and won’t settle for less.
When is an Off-Market Sale a Good Idea?
Let’s look at a few situations where an off-market sale works for the vendor:
– Your financial situation has changed. Maybe you lost your job, maybe you’ve taken on too much debt. Your mortgage is crippling you though, and you need a quick sale and you don’t really want to explain to your friends, family and colleagues why you’re selling.
– Your relationship status has changed. A divorce or a split from your partner is a tumultuous experience. The attention and pressures of a large marketing campaign for your home will just add to it.
– Your large family makes home opens difficult. If you’ve got kids, pets and grandparents in tow, you might find getting your house into immaculate condition every time there’s an inspection is more than you can cope with. Sell off-market and you can keep living your life without that added pressure.
– You’re a private person. You play your cards close to your chest, and don’t particularly want hordes of people inspecting your home every weekend.
– You’ve made an offer on another home. You need a fast sale because you’ve put an offer in elsewhere and need your property sold to make sure it goes through.
Get in Touch with Ristic Real Estate
If you’re thinking of selling, and any of those situations apply to you, an off-market sale might be a good fit. Remember that you’re going to need a good real estate agent with a large database of buyers for the sale to be successful.
If you want to know more about the pros and cons of selling in this way, talk to Ristic Real Estate. We’ve handled many sales off-market, and can tell you exactly what you want to know.
