
Category : Investment
If you’re an investor considering selling your property, you may be exploring selling off-market, and curious whether this is a good option. Selling off-market can be a great strategy if you’re looking to maintain privacy, whilst securing a hassle-free sale without delays and the unpredictability of the open market.
But how can you find the right buyers, and ensure a smooth transaction? In this guide, we’ll cover the key steps of selling off-market property.
What is an off-market sale?
Selling your property off-market means it’s not advertised on the open market via listing websites like Rightmove or Zoopla. Instead, it’s marketed directly to select buyers via word-of-mouth, private listings, or exclusive deals with investors. This makes the selling process much more controlled and oftentimes quicker than traditional methods.
Why sell off-market?
There are a number of reasons sellers may choose to sell their property off-market.
- More discretion: If you prefer to keep the sale confidential – whether for personal reasons or to avoid tenants or neighbours knowing your decision – off-market sales give you control over who sees the property.
- Access to serious buyers: You’re more able to target specific types of buyers – such as cash buyers, buy-to-let landlords, or developers, if that’s your preference. You also avoid dealing with low-ball offers from casual buyers, instead more likely to attract genuine buyers who want to make an offer and proceed quickly.
- Reduced costs: There is less need for expensive advertising, or excessive estate agent fees through marketing directly to investors instead.
Guide to selling off-market
Step 1: Get your property valued
It’s important to set a competitive and fair price for your property, as overpricing can deter serious investors.
Some factors to consider are:
- Current market trends
- Similar property sales in the area
You may want to get an independent valuation from an experienced surveyor to confirm everything.
Step 2: Prepare key documents
Off-market property deals often move quite quickly, as buyers typically are more ready to proceed with the process. This means you’ll benefit from having all the necessary documents and paperwork ready to prevent any delays and reassure buyers.
Key documents you’ll want are:
- Energy Performance Certificate (EPC)
- Title deeds and proof of ownership
- Recent maintenance and compliance records
Step 3: Market to the right buyers
One of the biggest benefits of selling off-market is targeted marketing. You can focus on serious investors looking for your type of property. This is typically via:
- Investor networks: Many property investors actively seek off-market deals. Connecting with buy-to-let investors, developers, and landlords through networking events, online forums, and investment groups can generate strong interest in your property.
- Word of Mouth & direct outreach: If you have industry contacts, reaching out directly to other landlords or investors in your network can lead to a quick sale. Sometimes, a simple conversation with the right person can result in a deal.
- Specialist estate agents: Some estate agents focus specifically on investment properties and have a database of serious buyers that could be interested in your property.
Working with a property management company is also a great way to access an existing network of investors, and a good company can match your property to buyers looking for similar investments.
Step 4: Negotiate and agree terms
Once you’ve found your potential buyer, be prepared to negotiate and agree on terms of the purchase. This kind of deal often involves more flexibility than traditional sales. Some aspects include:
- Cash vs mortgage buyers: Cash buyers may complete the sale faster, but mortgage buyers may pay more.
- Selling with tenants in place: Some buyers may prefer properties with tenants already paying rent for immediate income.
You’ll also want to be clear on your minimum acceptable price and any deal-breakers before entering negotiations. But negotiating favourable terms with some flexibility can make a deal more attractive to buyers.
Step 5: Complete the sale
Once you have agreed on terms with the buyer, the actual legal process begins. This will involve:
- Drafting and reviewing contracts
- Conducting legal checks and due diligence: buyers may request property surveys for example
- Managing the exchange and completion, making the sale legally binding
Since off-market buyers are usually experienced investors, sales often complete faster with fewer complications. When working with a solicitor, choosing one familiar with investment property transactions will help avoid necessary delays.
Is selling off-market right for you?
Selling off-market requires efficiency, discretion, and access to the right buyers. While this is very achievable, and can lead to faster sales and reduced costs, sourcing the right buyers, managing negotiations and handling the legal processes can be time-consuming and complex.
This is where working with a property management company like The Right Property Group can be invaluable – with access to a team of property experts that can streamline the process and help you along the way. Simply get in touch with our team today to discuss your options.
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