What are the pros and cons of selling your home off the market?
Today I’m answering whether or not you should sell your home off-market.
If you’re thinking about selling your home and have mentioned this to anyone, they probably know someone who is frustrated with this market and may be a candidate to purchase your home. They may very well be a good candidate to purchase your home. The question then becomes, “Should you or should you not sell off-market?” The answer to that question is that it depends on you and what your goals are. There is no one-size-fits-all answer, but I want to mention the key considerations of why it could be a good idea.
If you’re selling on the market, you’re going to have real estate fees. That is the largest expense that you’re going to experience as a homeowner. In these off-market situations, because a buyer is coming directly to the seller, you’re still going to get stuck with managing the entire transaction yourself from start to finish.
The second cost is impossible to quantify. That is the cost of potentially not letting the market do its job. There is no way that we can predict how much a buyer who’s missed out on multiple other homes might be willing to pay for your home. Most of these buyer offers lack any contingencies and they’re willing to waive appraisals and sometimes they’re even willing to waive inspections.
If you’re considering an off-market sale, consult with an unbiased real estate professional who can give you all the pros and cons of why you might want to consider taking that offer, or you might want to consider hiring them to help you see exactly what this market will bear for your home.
If you have any questions or need additional information, give me a call. I appreciate the opportunity to be your residential real estate resource.