It might come in the form of a knock on your door or a letter in the mail. Someone wants to buy your house, and for a fantastic price…but your home isn’t even on the market. This happens more often than you’d imagine. If you find yourself in this situation, it’s smart to consider your options.
What do you do?
If you definitely don’t want to sell your home, don’t do anything. However, if the offer sounds enticing and you’re at all intrigued, talk to the prospective buyer over the phone. Make sure they’re serious, and ask how long they’ve been looking. Inquire about any additional offers, and ask them why they specifically chose your home. Try to understand their motivations, their home buying experience, and the price/terms they’re ready to offer. You’ll probably need to show them the interior of your home at some point, but be cautious of strangers that set off any red flags.
Enlist a real estate agent!
If you used an agent to buy your home, you might want to contact them again and tell them about your unexpected offer. A good agent will be able to assist you with the transaction and advise you on the wisest next steps. Many agents will offer their services in an off-market deal for a reduced commission, since it’s usually a quick transaction.
The deal might not happen…
Off-market deals don’t always go through for a variety of reasons. Usually, it’s because the seller isn’t motivated enough to sell the property. It’s also not abnormal for conflict to arise over the last few thousand dollars, which can prevent the sale from happening. In most cases, if the buyer is serious about the property, they need to cough up the extra cash. The seller has what they want, and the opportunity to buy off-market is extremely fortunate.