Many of my transactions have been off market property sales where either the buyer or seller can benefit from a home not going on sale to the public. Even with the surge in prices and low inventory over the last year, there are often special circumstances where not putting a home on the market makes sense. I am always trying to accommodate for buyers, sellers or investors that would prefer to work towards a transaction where each party’s needs and timeline can be met. Why would a seller choose to sell their home off-market when prices and demand seem so high, especially in the Bay Area? The more I work with homeowners the more reasons I find that sometimes pushing a home to market is not what would make sense for their situation. The most common scenario I see is that sellers need a specific transition scenario to their next home that often requires a rent back term, a quick closing for access to equity, and flexibility for downsizing, packing and cleaning. This may be because they have health limitations, a unique work obligation, or have a new property to move into that has it’s own restrictions. I also worked with a homeowner that was not comfortable with the sale of their home being public or having groups of prospective buyers and agents visiting their property. For buyers an off-market purchase can work in their favor but may not always be the best opportunity depending on their flexibility. Sometimes the new property could require repairs, inspections and meeting the seller’s needs which could delay them moving into the home. Last year I worked with a buyer to move into an off-market property I found for them, but there were months of repairs and construction that prohibited them from moving into home day right away. Keep in mind that during this period they are still paying the mortgage and all expense for the property and may still be renting or making payments on their current home. The good news is that situations like these could favor buyers as the seller is willing to compromise on price and make a deal that makes sense for both parties. If you or anyone you know would be a good candidate for me to work with on an off-market sale or purchase of their next home please get in touch with me!
Dean Powell
Keller Williams Realty Danville
CA DRE # 02108792
925-765-8584
Dean@DeanPowellHomes.com
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