Let's be honest: finding the best real estate deals can be daunting and time-consuming most of the times. The housing market is growing by leaps and bounds, and real estate sellers and agents are competing with each other for offering the best deals.
The majority of real estate sellers approach local realtors and use the local Multiple Listing Service (MLS) for offering properties to buyers. But this is not the only way of listing and selling properties. Sellers market properties using an off-market approach, in which they approach buyers privately through a local realtor who act as a mediator between sellers and buyers.
How to find best real estate deals?
Finding off-market properties is can be both time-consuming and expensive. But there are a few simple tips that you can follow to find the best deals:
Use direct marketing: Sometimes, home-owners don't offer their properties on sale until they find an opportunity to offer. You can give them an opportunity by sending out direct mails or postcards to sellers, or advertising in local newspapers that you are looking for a residential property. By choosing the best advertising venues, you can get a large number of attractive real estate deals from sellers.
Approach estate attorneys: Estates usually attract a lot of investors because they generally have creditors that need to be cleared off. You can network with estate attorneys to know about properties that may become available in the future. Estate attorneys usually keep you informed about potential off-market properties.
Consider bank-foreclosed properties: Often banks foreclose properties because owners fail to pay mortgage amounts on them. You can examine public records and find such properties that may be available for auction sale in the future. You can even browse local newspapers for such properties.
Be the first ones always: Last but not the least, try being the first one to approach a seller because one property might get ten other bids. Consider driving around the locality to find advertised vacancies. Approach sellers directly before they list the property with a realtor. You stand a good chance of getting a fair deal.