What are off market Boston condo for sale deals?
What are off market Boston condo for sale deals?
What are off market Boston condo for sale deals? Before can dive into how to purchase off market Boston condo for sale deals, you need to understand what they are. Essentially, an off-market listing has not officially been listed on the MLS.
The MLS stands for Multiple Listing Services. It means that a homeowner or their real estate agent has put their property out there for the public to see on multiple platforms. If there is a public sale of this property, homeowners are typically required to list it here at least one day in advance.
Some homeowners may not want to do this because they either want to sell their property quietly, to someone that they know, or they may just not know how to advertise their property.
If you are looking for a deal, know what Boston condos are out there. However, to find them, you are going to have to put in a little extra effort.
Be Motivated as a Buyer or Seller
The most important thing here is to do your homework on the Boston condo for sale market. Why this is so essential is that if you do find a Boston homeowner who has not listed their home on the MLS yet, they may not have an idea of how much their property is worth.
This could be somebody who is trying to sell their home themselves initially but may not have an idea of just how much their home is worth.
Here’s an example, lets say you find a Beacon Hill condo owner and assume the homeowner has an average home in Beacon Hill worth around $800,000. However, this homeowner may only be looking to get $650,000 from the condo owner if it means that they can have a smooth sale.
In this situation as a homebuyer, you will want to know the demand in your market to make sure that you are getting a good deal before moving forward.
NEGOTIATION
When you try to find off market deals, negotiation is going to become more and more important. There is a chance that you may be trying to sell this property yourself or you are buying a property directly from the owner.
Either way, it is unlikely that you have as much experience here as a Boston real estate agent when it comes to condominium negotiations. That is why you have to take the first step and do your homework before you get to this stage.
Once you have done that, it is time to form a plan of attack.
If you are the one that is trying to buy the house, pick a number that you will not go over under any circumstances. If you are trying to sell the house, do the opposite and pick a number you will not go lower than.
You have to remain confident and firm when you are negotiating a deal like this. It helps tremendously if you show your opposition that you are not afraid to walk away if you do not like the offer that is currently on the table.
Try to remain rational rather than emotional during this process. Showing indifference will increase your chances of getting a good deal.
ASK AROUND
If you are having a hard time finding a good deal in this area, perhaps you should go to your friends and family to ask them if they know anyone that can help you. They may know someone who is currently looking to buy a house in your area or someone looking to sell a home in your area.
This could be one of their neighbors, friends, family members, co-workers, and more.
Regardless, having this mutual connection can benefit you greatly for a deal like this. About 88% of people reach the highest level of trust for something when a friend or family member recommends it.
What does this mean? This study claims that because both the buyer and seller are being encouraged by someone that they trust to go through with this deal, you are more likely to complete the deal on good terms.
Do not be afraid to ask anybody in your social circle about this. It could even come down to a co-worker or acquaintance that you do not speak to often.
Still, it can give you that foot in the door that you need.
FIND OFF MARKET DEALS
These are some tips that you can use about finding off market deals in downtown Boston. With Boston having such a high demand for people to move to, it is understandable to want to find an off market deal if the opportunity presents itself.
Make sure to do your homework before negotiating any type of deal. If you are having a hard time finding an off-market property, just ask around
Now once you find a Beacon Hill or Boston condo, you want to renovated it, click for more info on Boston condo renovation tips.
Are you ready to find one? contact us at 617-595-3712 or via email realtyford@yahoo.com
