The current real estate market has shown us that nothing is impossible, not even buying a house that isn’t on the market. There is actually a term for this, “going under the market” means combing through inventory to find properties that aren’t technically active listings, but might have an owner that could be convinced to sell – for the right price, of course.
Cape May is known for its charming architecture and picturesque homes. Any buyer browsing this area has surely come across their “dream home” that may not even be listed. Does this resonate with you? Keep reading for some tips on how you can potentially turn that dream home into a reality!
Find the right agent
Buying a home that isn’t for sale is no easy feat. We recommend letting an experienced agent lead the way. Here are some examples of what a Coastal Marketing Group agent would do for you in this situation:
- Review expired listings: checking to see if any homes that went on the market didn’t end up selling
- Check tax records: checking if someone has a different address than the home listed for their tax returns, suggesting it is an investment or vacant property
- Direct mail: snail mail sent to homeowners inviting them to get in touch with a real estate agent if they are open to receiving offers on their home
- Prospecting neighborhoods and specific homes: picking out specific neighborhoods and homes that you would love to see if they were on the market
Get serious
Although an agent will have to do most of the official work, there are things homebuyers will need to get on top of in order to purchase an unlisted home:
- Commit to one area: know where you want to buy and stick with it, that way an agent isn’t doing work that won’t pay off
- Flexibility: buying an off-market home isn’t the norm, so the process might not be either. Be ready to see a home at a moment’s notice!
- Get pre-approved: having that letter from the bank shows homeowners that you’re serious about making this purchase
- Prepare for negotiations: approaching an unexpecting homeowner may make them think that they could get more money if they do list, so they may want to negotiate your initial offer
Have you had your eye on a home that’s lacking a sign in the front yard? Give us a call at (609) 884-4242. Our local agents are ready to take on any task – let’s get started today!
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