HOW TO BUY A HOUSE THAT’S NOT FOR SALE

Many of us have them: that real-life dream house. Maybe it’s the natural stone stunner on a wooded lot near your office, or the craftsman cutie you always see while driving to the grocery store. You probably find yourself daydreaming about that being your house.

The problem? It isn’t on the market. Well, there are some great strategies to try to make it yours. Here’s how to buy a house that’s not for sale.

COMMIT TO A REAL ESTATE AGENT

Buying a house that’s not for sale means extra work for both you and the agent, so it’s best to pick someone who has proven knowledge of the market and community, and that you’ll enjoy working with closely. Hint: our team has over 30 years of experience in real estate and our agents are well connected in the area, so don’t forget to check us out!

COME UP WITH A STRATEGY

As we mentioned above, buying a house that’s not for sale means that your agent will be going several extra miles. They’ll review expired listings, review tax info, send direct mail, and help you drive around the city to make lists of homes you are interested in. Once you find your agent, find out what they’ll be doing to help you on your search and ask them (or they’ll likely tell you) what you can do on your end. The more information you can provide them regarding what you’re looking for in a home or neighborhood, the more efficient your agent will be.

GET PERSONAL

Write a letter for the owners of your dream home. Let them know that you love their home and why you’re interested, and then explain that you’d love to purchase their house if they’d ever like to sell. Keep it personal and casual so you don’t seem like an insincere flipper or scammer. Once you’re done, give it to your agent to mail on your behalf and find out if they’d be willing to sell.

DON’T OVERLOOK HOMES THAT NEED TLC

Can you see some incredible character peeking out from chipping paint? Often, vacant properties are ripe for the taking even if they’re not formally for sale. You can search county records to find the former owner then Google obituaries to see who might own the property now.

GET THE DETAILS FIGURED OUT EARLY

Since you’ll (hopefully) convince a seller to sell to only you, figure out how much you can offer them and get your mortgage loan settled ahead of time. Then, you can be confident and strike while the iron is hot—and before the seller decides to put their home on the open market. We’ve heard the old adage often, and it’s true for a market as hot as Madison: if you sleep on it, you won’t be sleeping in it.

Now that we’ve briefed you on how to buy a house that’s not for sale, get in touch with Madison’s most dedicated real estate agents! We’re on call to help you land that dream house—whether or not there’s a for sale sign in front.