Buying a property can be an exciting experience, especially when you are aware of off market properties that come up Off Market Properties Melbourne Here. These are usually a result of the vendor wanting to sell their property privately rather than advertising it publicly to a large number of buyers. The reason can vary from circumstance like a relationship/marriage breakdown, difficult neighbours or a complex family situation to financial reasons or employment changes.
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The main benefit of selling off-market is the privacy it brings and the ability to control who sees your home as it’s only listed with a select group of buyers. This is ideal for vendors who want to sell quickly, as they can avoid the stress of showings to a wider market. It’s also cheaper to sell off-market as you don’t have to pay for expensive advertising.
With property prices reaching record highs across Melbourne, off-market sales are on the rise particularly for prestige properties. The McGrath Report revealed off-market prestige property sales were up by 40% last year. To get a feel for the off-market property market, it’s important to keep up with your local agents and visit open inspections frequently to build valuable relationships with them. This will enable you to be first in line when a great property comes up for sale. It’s also helpful to do your research by looking at past sales results in the suburb you are interested in purchasing in, as they can vary dramatically.