Part of the value in hiring me is to see properties you won’t find online. However dealing with off-market properties requires a different approach.
They’re often unrenovated and poorly presented because they haven’t been prepared for sale.
Access can be difficult. Buyers have to be prepared to inspect at inconvenient times and it’s not unusual to get only one chance to inspect.
Sales contract won’t be ready. We’ll have to arrange the building inspection and strata report.
And there’s a good chance inconvenient conditions will be attached like an extra long settlement or subject to an existing lease to dodgy tenants paying cheap rent.
Despite all of this, every owner will still hope to get a good price yet because they haven’t committed to selling emotionally or financially they’re more likely to walk away from a deal.
Negotiating an off-market property plays to a different set of rules where knowing the underlying motivation of the seller is especially important. They may be too cash-strapped to pay for styling and marketing. Or concerned with keeping their life circumstances private. Or just hoping to cash in off the back of a neighbour’s big ticket sale. Uncovering the motivation and crafting the offer accordingly is critical.
Dealing with off-markets requires a different approach. There are gems out there, it just takes extra vision and patience to see the potential and get the deal done.
That’s all for this week. If you have any questions, please do get in touch.
You can book a call with me here: https://on.sprintful.com/15min-call-with-dan-sofo
