How to find off-market properties UK

Forth Action Invest on May 16, 2023

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In the final three months of 2022, one in 10 Britons sold their home off-market rather than opting for the usual method. This is the highest level recorded of selling via this way since 2015.

Likely spurred on by the global pandemic, where selling off-market meant fewer strangers viewing the property and in someone’s personal space, off-market properties are no longer an unusual way to find or sell your property.

It’s becoming a particularly common occurrence within the investing space, but there are no limits or restrictions on buying or selling in this way. In this article, we’ll delve into this further, looking at: why sellers utilise this strategy, the pros and cons, and how to find off-market properties.

What does ‘off-market properties’ mean?

If a property is sold off-market, this means it’s not being advertised on the open market – it won’t be on Rightmove, social media, in the windows of estate agents, and it won’t have a ‘for sale’ sign outside.

For buyers, off-market properties mean less competition. As the listings are private, it typically draws in more qualified buyers.

Why do sellers sell off-market?

Historically, sellers have sold off the market to retain privacy and discretion for the more expensive and rare properties.

However, they are becoming increasingly popular due to ease. For example, when you sell through the usual means, there are usually multiple viewings arranged with strangers, but that’s not necessarily the case when selling off-market. And a lot of hoops to jump through in the standard long process. 

It can be a lot less hassle selling off-market, and you may receive more serious buyers who are able to jump right in.

This was also a positive point during Covid-19 and potentially why off-market properties saw such an increase.

In the world of investing, selling off the market often means a quicker purchase and process as a fellow property investor can find the right person within the industry.

What are the pros and cons of selling or buying off-market?

The pros are:

• Sellers don’t have to deal with staging or arranging numerous viewings for unqualified customers.
• There’s much less competition from buyers, meaning less chance of a bidding war.
• The deal remains out of the public eye, so confidentiality and privacy are given.
• It can bring in only the most qualified of buyers, so the deal can likely go through more seamlessly.

The cons are:

• It can be more difficult to create a bidding war (but not impossible.)
• Agent-assisted homes sell for more, according to research. Agents can assist with off-market properties too.
• Overall there’ll be less exposure to the property.

Is off-market property cheaper?

It depends. If it’s an investment property or an abandoned one, it could be cheaper as the seller will save time and money (through agent fees and advertising.) 

The latter style of property (one which hasn’t been habited in a while) could be cheaper if you seek out the owner and present them with an offer. If they have a large property portfolio, they may not even be aware that the property isn’t currently being lived in. This could provide an opportunity to give the property a new life in new hands.

The people who buy off-market properties can differ from regular buyers. They’re usually more ready to purchase, often with cash, or they may have everything ready to go as soon as you accept their offer. This could also make the price cheaper than those you see on the open market.

The types of buyers of off-market properties are typically other investors and landlords/those interested in renting out properties or people who cannot find what they’re looking for online.

5 Ways: How to find an off-market property UK

Finding an off-market property can be a stroke of luck for some, but it doesn’t have to be that way. There are numerous avenues you can explore to help find your next rental property.

• Property sourcers

Working with a property sourcing company is the quickest way to find unrivalled investment opportunities and off-market properties. This is because they have extensive knowledge of your chosen location area, contacts, and the expertise to find those incredible one-off properties that yield great results.

For those looking to find their next investment property in the North West or Manchester area, we (at Forth Action Invest!) have the experience, tools and little black book to source a high-yielding property that matches and exceeds your expectations. 

• Estate agents

While estate agents won’t splash off-market properties all over their windows or even add a for sale sign outside, there are some who take on off-market properties. 

Some estate agents do discreetly market these properties to a database of ready-to-buy individuals. So if you’re looking for your next investment property, it could be worth calling up the estate agents in your chosen area to see if you can get on the list for their next available property.

• Word of mouth and networking

Despite the property investment industry being vast, the community can be quite tight-knit or fragmented into different areas. But if you’re looking for property alone, networking should be your main priority.

You could start by joining groups and pages on social media or even simply following other investors who are sharing their journeys. From there, it’s a case of introducing yourself to as many relevant people as possible. You never know who may have a property to sell off-market.

• Find properties on Land Registry

If you already have your next investment property in mind, and it’s a rundown property or one which has appeared uninhabited for a long period of time, it could be time to do some detective work.

To find a property like this, look for signs of abandonment. This could manifest in various ways like an overgrown garden, broken windows, or boarded-up windows or doors.

To identify who the owner is, start with the Land Registry. You can use this to see who the current owner of the property is and the price they paid. You should then be able to contact the owner directly to see if they want to sell.

• Advertise

One solution to finding off-market properties is by advertising your buying desires. Many do this through their social media pages or investing groups on Facebook. Again, this is perfect for those who regularly network within the industry and with other investors and landlords. 

This strategy does require investment with time, and it is crucial to vet any potential deals carefully and potentially with an outside perspective too.

Find your next property investment with Forth Action Invest

Evidently, off-market properties have faced increasing attention since Covid-19. But so has the area of Manchester and the North West. More people than ever are moving north to find a better life with a lower cost of living in comparison to the capital.

So for those who invest in property, Manchester and the North West are quickly becoming a dream land for property investors – with growing populations and interest, the need for each different type of property is required.

At Forth Action Invest, we are property sourcing experts within this location, and we’ve sourced many off-market properties that have an impressive rental yield.

To learn more about our hands-free property sourcing services, fill out our short contact form and we can start discussing your requirements.