Off Market Sales

B.A.C.

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I'm wondering why off market sales are a thing given that people will obviously become aware that a transaction took place and the property price register will give the price.

Once you have decided on an area should you tell every estate agent you can find that you are looking so you don't miss any opportunities?

You would likely have to give them an idea of your budget which may tip your hand in negotiations.
 
Off-market sales might be a way of selling a property where the vendor fears a problem neighbour might cause problems. Others just don't want the neighbours or others (ex partners perhaps) knowing they're selling. Perhaps there's something about the property that might just attract a lot of tyre-kickers if it went on public view, or perhaps the vendors need to downsize, and don't want everyone knowing.

Once you have decided on an area should you tell every estate agent you can find that you are looking so you don't miss any opportunities?

You can, but expect mixed results, and don't rely on them to inform you of all properties they have that might suit you. They're more likely to start reaching out to people on their books if they feel a property might be difficult to shift. The ones that will sell easily, they'll just advertise and arrange public viewings.

If you have zoned in on an area, go to some viewings for the style of property you're looking for and speak to the agent. You'll get a sense of how interested they are in helping you.
 
I'm wondering why off market sales are a thing given that people will obviously become aware that a transaction took place and the property price register will give the price.
Selling off market or privately doesn't always mean the seller is trying to hide the price! We've just sold privately and it had nothing to do with that! It just happened nicely for us and having sold a couple of years ago with an agent, we were delighted to avoid them this time!
From this private sale and the house we bought, if you are looking in a specific area, sure talk to agents, but do some legwork yourself as there's houses out there you can maybe get that would never hit the market. Just depends how much you want to live in a specific area!
 
but do some legwork yourself as there's houses out there you can maybe get that would never hit the market.

It'd be difficult to get plugged into areas like Dundrum to get to a point where you would hear about potential sales before they hit the market.
 
I’m glad this thread popped up. This is something I’ve wondered about too. We contacted loads of agents and almost always the properties where just about to go sale agreed, it became frustrating. When I would ask about private sales many agents eventually, reluctantly, told us about them. Will caveat that I’m not looking for new builds or new estates & for some reason I’ve a penchant for enquiring about probates unintentionally...
 
It'd be difficult to get plugged into areas like Dundrum to get to a point where you would hear about potential sales before they hit the market.
Yeah, I'm not from that side of the country so dealing in smaller areas! That would be tricky. But you know what Ireland is like, somebody always seems to know somebody else! Ask friends/relatives if they ever hear anything about a certain area...we heard about a house that way, now it didn't pan out as owners decided to keep & rent it. Two weeks later as luck had it, we went sale agreed on another close by. That house was never going to the market. A bit of luck was involved sure, but we were also on the hunt for about a year in a specific area. No agent was involved (aside from the vendor having a valuation, which we agreed with).
 
I’m glad this thread popped up. This is something I’ve wondered about too. We contacted loads of agents and almost always the properties where just about to go sale agreed, it became frustrating. When I would ask about private sales many agents eventually, reluctantly, told us about them. Will caveat that I’m not looking for new builds or new estates & for some reason I’ve a penchant for enquiring about probates unintentionally...

Why would an agent have an issue with a potential buyer inquiring about probate?
 
Why would an agent have an issue with a potential buyer inquiring about probate?
The shouldn’t in theory, I think that particular agent just didn’t like being asked so many questions on the first viewing. I had been warned by a few long time property buyers that if the agent didn’t know if probate had granted then that should send a warning. How’s your hunt going? We are about to go sale agreed on an executer sale but it’s a site as opposed to an actual demise and it’s far less of an ordeal as the only other bidders are a couple of small time developers who have a bottom line and we don’t pet se as we’ll build to suit us so it’s a lot more straight forward.
 
I'm guessing it's more likely that the houses that attract em_cat's attention are those in probate. Nothing to do with agents.
@Leo, yep you hit it on the nail, I seem to have a sixth sense about it. My OH thinks it’s amusing.
 
It would be great if Ireland brought in a 'Vendor's Declaration' similar to those of some Australian and American states.

Have to tick various boxes relating to the type of sale including if deceased estate and probate concluded, house condition and known/unknown presence of items such as asbestos, even have to tick known/unknown if someone has passed away on the property. It is a simple two-page form, but very informative such as date boiler replaced, heating/cooling last serviced etc.

But, we're all well too shady for that type of transparency...
 
It would be great if Ireland brought in a 'Vendor's Declaration' similar to those of some Australian and American states.

Pre-Contract Investigation of Title goes a long way to streamline the process. The vendor's declarations like those in the US really just confirm basic information on title. None of them ever detail the condition of a property because such a declaration is of no value. It would be next to impossible to enforce in court. Lack of asbestos in a property is impossible to prove unless you test extensively, which is very disruptive and expensive. Someone says the boiler was serviced on such a date, how do you prove it wasn't

I don't ever see a register of whether someone has died in a property ever taking off, or having any value whatsoever.

But, we're all well too shady for that type of transparency...

You don't trust someone selling a second-hand car to be transparent about the full history of the car they are selling. Expecting the vendor of a house to tell you all the potential issues is just asking for trouble. Buying a house is a huge expense, why are people so reticent about spending a few quid to hire a professional to
 
A 'vendor's declaration' with truths and potential falsehoods. It would be extra security and would obtain some factual answers with regards to planning permissions etc. Importantly it may also speed up the sale from the vendor's perspective. For our last sale, we had a pre-sale inspection done and very minor items fixed up and it was included in the hand out to buyers. We sold in a few days. Makes the vendor appear more honest ;)

Of course, surveys, further recommended structural and utility checks are necessary to understand what you are buying. Naturally, title and boundary checks go without saying.

Yes, I always thought that the question about death in the residence was a weird one. Apparently some buyers in the 'new world' are a bit strange about it per our real estate agents. I frankly, don't care and wrote unknown even where that property was on/adjacent to a historical battlefield.
 
It would be extra security and would obtain some factual answers with regards to planning permissions etc.

It really wouldn't offer much as a potential purchaser could never trust any such declaration. It would cost thousands in legal fees to attempt to claim compensation based on trying to prove a false declaration and they'd be very unlikely to ever see a penny back. would find it close to impossible to get a penny back


Makes the vendor appear more honest ;)

It's very easy to produce a fake report. But even in the case of a genuine report commissioned by the vendor where an issue wasn't discovered or disclosed, the purchaser has no entitlement to pursue a case as they have no contract with the surveyor.
 
It would be great if a property ad had to come with an engineers report just like a BER instead of potentially multiple people having to pay for the work to be replicated to uncover hidden issues that have not been disclosed.
 
It would be great if a property ad had to come with an engineers report

For the report to carry any weight, we'd need a complete overhaul of how professional indemnity works, which would only result in a significant increase in the cost of such reports.
 
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