Recently approached about off market deals? I wanted to get a better understanding of what is considered an off market deal.
Any advice/definition is greatly appreciated!
@Steve Morgan Generally it's a property that is not being actively marketed on the MLS, Zillow, LoopNet? etc. Being off market doesn't always mean it's a good deal.
@Zach Evanish thanks Zach I appreciate it. I figured that was the case. I was originally told off the market deals are better to deal with in comparison to the MLS listings. Also, it was mentioned that off the market is more lucrative. Do you know if there is any truth to that?
Off market deals can be more lucrative, but not always. Since the general public doesn’t know it’s for sale, you’re not competing with as many offers.
@Dominic Flint thanks Dominic that is exactly how it was presented to me that there is no competition and I would actually have the first look at the property prior to the property hitting the market. Anything that I should look out for when dealing with off the market properties? Off the market properties seem very attractive but I wonder if there are any hidden issues with off the market real estate?