Off-Market Transaction

Buying or selling any sort of property comes with many considerations, as well as a great deal of headaches if you don’t have the right guidance and assistance. A few questions that some buyers and sellers may have is how to go about an off-market transaction and if this route is in their best interest. An off-market transaction involves the buying and selling of a piece of property that isn’t listed on multiple listing services (MLS). So, you won’t find these properties if you’re looking at online listings for homes in a certain area, for example. For some, buying or selling off-market is the best option, and when this is the case, Tressler & Associates can help.

Off-market transactions are becoming more popular, but are far from the norm. To help ensure this process is handled properly, you need a real estate attorney to oversee it. At Tressler & Associates, we can help you through an off-market transaction.

What are the Advantages of an Off-Market Transaction?

An off-market transaction can have benefits for both buyers of sellers. Of course, this method won’t be right for everyone, so you want to feel confident that buying or selling in an off-market transition fits your needs.

Benefits for Sellers

Not every seller wants to have a wide range of potential buyers. Maybe they know they’re selling to a friend or want to make it exclusive to a small group of well-qualified buyers. Here are two of the top benefits of selling off the market.

• Keeping it Private – Most sellers normally want as much publicity as possible when they put their property up for sale. Selling property is typically a public event, and depending on where you are in your life, you might not want people to know. Maybe you’re selling a property following a divorce and don’t want to call attention to it. Likewise, those who own rental properties and currently have tenants might not want to alert them right away that they’re selling the property. If discretion is needed, an off-market transaction could be right.
• Testing the Market – Some sellers might intend to eventually put their property on the MLS, but not right away. Selling a property off-market gives sellers a chance to see how their property performs before making it public. If they don’t get the response from buyers they had hoped for, they can lower the price without making this information public. Additionally, sellers do not have to worry about buyers seeing how many days the property has been on the market. Sellers can either choose to go ahead with a transaction without ever putting the price tag in the public eye.

Benefits for Buyers

As a buyer, you might wonder why you would want to buy an off-market property. Rather than searching through listings and attending open houses, here are two reasons an off-market transaction can be great for buyers.

• You May Get a Better Deal – Real estate is a huge investment, so you want to be sure you’re getting the best deal. However, this can sometimes be difficult when there are so many other buyers looking at one property. With off-market properties, you won’t have this issue. Off-market properties tend to be easier to negotiate for a better price, so if you’re looking for a good deal, you may want to consider looking at off-market properties instead.
• It Can Be Less Stressful – No one has ever said buying property was easy. While buying an off-market property still comes with challenges of its own, you can avoid many of the stresses of buying property that’s on the market. Buying an off-market property means you’re competing with a much smaller group of buyers, so you might not feel the need to increase your offer to beat the competition. An off-market transaction is often less rushed as well, which can help reduce the stress associated with buying real estate.

Real Estate Attorneys Who Can Assist with Your Off-Market Transaction

While buying or selling an off-market property can have great benefits for some, there are still challenges to be aware of in this process. Every real estate transaction can benefit from the guidance of a real estate attorney, and off-market transactions are no different. At Tressler & Associates, we know the unique challenges that can occur in these real estate transactions and will help you avoid any complications. When you’re buying or selling property, you can trust us to ensure your best interests are looked after.

If you’re involved with an off-market transaction, contact the Tennessee real estate attorneys at Tressler & Associates today.