Buying a property involves many decisions such as location, price, value, size and fit for lifestyle. It is important to do your research and explore all avenues in order to find the best property for you and your family. Off Market Properties Melbourne is one avenue which has gained significant traction in recent years due to unique opportunities on offer.
How to find off-market properties in Melbourne?
The Melbourne housing market is in a period of adjustment. With house prices now at their lowest level in more than a decade, the market has been affected by affordability constraints, low wage growth, interest rates and an oversupply of new apartments. As the market continues to slow, strategic investors and homebuyers are increasingly considering the benefits of off-market properties as they look for better value options.
Off-market sales involve an agent contacting buyers directly to negotiate the sale of their property prior to listing on the public market. This can be an excellent option for sellers looking to achieve a quick sale and avoid paying for marketing and advertising costs. It can also help them maintain their privacy and only attract serious buyers.
Off-market sales have been popular in the Melbourne real estate market for their ability to save on commission fees, marketing and advertising costs, and the time required to prepare a property for the market. However, there are some pitfalls that buyers should be aware of when considering off-market properties for their next purchase.