Reply to How does one find off-market potential sellers?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My husband and I have been trying to identify potential sellers of properties that fit our criteria but it feels like a losing battle - we are already getting passed by due to all cash, no contingency offers, with some sight unseen. It's freaking ridiculous out here.

We have an agent but I don't feel like they're doing much of anything to help in these efforts. They said the sent letters to potential property owners but that's it.

No mention of networking, posting online, or anything to help further the cause.

I'm tired of sitting around and waiting because that's all we've done for homes that eventually come on the market. We need to be ahead of the market because once something goes live, we've already lost.

So.. is there something I can be doing to help our odds? I'm so frustrated..[/quote]

Usually, an "off-market" seller will only respond to an offer that seems like a premium to the market rate, all cash and with few conditions.

I don't understand what the approach would be to someone who isn't actively selling to give you the time of day if you are going to have contingencies and need a mortgage...unless you are offering a decent premium to the seller.

You hear about it all the time at the very high end, where some billionaire has their agent contact sellers and offer a 25%+ premium and they will write them a check tomorrow.[/quote]

Yep. If I’m accepting an offer from cold outreach it needs to be significantly higher than anything I think I could get on the open market and you’re getting zero contingencies and I’ll probably ask for a 3-4 month rent back to figure out where we’re moving AND you better be well qualified cause if it looks like you’re stretching and it might fall through, nope.

In summary - way more mental hoops to clear to get someone to sell off market vs competing in the open market.  [/quote]

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