The Benefits of Buying an Off-Market Property

Hoboken Real Estate Podcast with Brett Sikora

Are you tired of getting dragged into bidding wars? Off-market properties may be the solution for you.

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Why would a buyer be interested in an off-market property?
Off-market inventory is very popular for buyers who’ve already missed out on other properties and know exactly what they’re looking for. Time is less of a factor in this case because it takes longer for us to find off-market properties.
For example, let’s say you wanted to purchase a unit in The Hudson Tea here in Hoboken but lost out in a bidding war. What we would do is call the rest of the units in the building and see if any of the owners would be willing to accept the same offer you made on the unit you lost out on.

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Off-market properties allow you to bypass bidding wars.

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If you missed out on a home in the suburbs, we would draw a circle around that home’s entire neighborhood and start reaching out to other homeowners in the event that they might want to sell. This is a great way to find inventory without worrying about getting into another bidding war. If the property makes sense, excellent. If not, that’s fine too. We’ll just keep moving along and see if any of the other neighbors would want to sell their home.
If you’re tired of bidding wars, we’re here to help. I estimate that one out of every 10 transactions we handle is an off-market transaction. Not only does it help buyers, but sellers usually get a great number at the end of the day as well.
If you have any questions about off-market properties, feel free to email me or give me a call. I look forward to hearing from you!