You hear it on TV and radio ads. You see it on highway billboards and all over the web. Buzz phrases, “We buy houses! Sell your house AS-IS! Sell your house off market! Save time and money in the process!” What does all of this mean? Why would anybody want to sell their house as-is “off-market?” Perhaps most important is a question of validity. Are these advertisements too good to be true? Could it really be as easy as a 10 to 15-minute phone call to sell something so non-liquid, like a house? Let’s go through the elements that make up this off–market selling process, its benefits, and answer the big question: Could it really be that easy?
No Lengthy Process. No Realtor.
To sell a house “off-market” is to sell without advertising the property to the public. An agent contacts an interested seller directly or an interested seller may contact a real estate investment agency specializing in this process. Should the seller be presented with a reasonable offer, the person to agency may purchase the house without ever going through the traditional—and lengthy—process of buying a property.
Selling Off Market: A Cheaper Option
Selling a house off-market is a much cheaper option for the seller, especially if the costs of marketing the house are of concern. It allows the seller to avoid the risk of the property not selling for an extended period—a common occurrence given inherent volatility in the housing market. This alone is great for a variety of reasons, the first of which tailors to an individual’s personal situation. ‘Sticky situations,’ be it financial, family, maintenance, etc., can all be pushed aside when selling off-market. In fact, these scenarios present opportunities for investors, allowing a seller to possibly sell their house even quicker!
Are you thinking about selling your houses as-is, off market?
Misconceptions of Selling As-Is
This process has made a greater appearance today with an ever fast-paced population looking to bypass the traditional selling process. However, it may seem to many that there exist poor intentions in these buyers—that they look to underpay vulnerable and gullible homeowners in a sticky situation just to make a buck. This is a common misconception. Selling a house off-market presents opportunities for all parties involved, both seller and buyer. A seller who may otherwise be faced with challenges in selling a home—namely those in repairs, staging, maintenance, etc.—is given the chance to offload that burden as an opportunity for an investor with the willingness and drive to add financial and sentimental value to the home once again. The process and all of those involved connect the right people to each other and make a traditionally lengthy, expensive, and draining process of selling a home into one bearable by today’s fast-paced standards.
Is It really That Easy?
The big question ‘could it really be that easy?’ is one that many potential sellers ask when considering selling off-market. Could a 10 to 15-minute phone call be all that is necessary to kickstart the process of getting an offer on a home—even one that needs TLC? When looking online, it is evident that everyone has a different experience with the process, though the vast majority seem to agree that the first phone call is really all that is needed! From there, the buyer does his or her own research on the house, comparable properties, etc., and will tour the property, just as any other buyer would want to. Taking what they have learned, the buyer will make an offer, which the seller may either accept or reject.
Should they accept, that’s it! A contract is drafted, and a closing date is selected—except it doesn’t take months. The timeframe is dramatically reduced and both parties walk away with value added. So, should you need to sell your home quickly and would prefer not to deal with expensive repairs, staging, and other time-consuming logistics of selling a home on the market, perhaps you should consider selling off-market. It may just be a better fit!