Mysterious property sales

Alexandra Stiell, property consultant at Jackson-Stops Chester talks us through off market sales…

Ever wondered why you see properties come onto the market on Rightmove but they are already under offer? Or wondered how a property sold in your village when it did not appear on Rightmove?

Well, this is because of something called “Off Market Sales” or “The Grey Market”.  These are properties where the vendor has decided not to market to the general public for a variety of reasons.  It could be they want a degree of privacy and discretion; maybe they are testing the market – trying a price point before going to market openly; alternatively, they have not found a property to move to, so are wary of the pressure of large numbers of viewers; or simply the property is not ready to market (maybe it looks stunning in the summer, but in mid-winter -not so) but if a buyer is a perfect match, they’ll consider a move.

At Jackson-Stops we have a number (sometimes as much as 50% of our stock) that we are marketing in this way, and we are not alone – this method of sale is becoming increasingly popular with many agents using it as part of a full marketing strategy.  It is for this reason that if you are seriously looking for property, you must stay in contact with estate agents in the area in which you wish to live.  These “Off Market” properties tend to only be on offer to prospective buyers who are unincumbered by a related sale; buyers who can offer a swift exchange but a longer more flexible completion or, in contrast an extremely fast one.  

There is another reason why, to put yourself in the best possible position to buy you need to be, what in estate agency parlance is “proceedable” (e.g. sold subject to contract with complete chain behind, cash buyer, able to buy without selling etc) so you can get access to this substantial part of the market.

Two examples of these “Off Market” properties are “Calverley” in Eccleston which is being marketed at £1.25m (an Arts & Crafts detached home, with superb entertaining space but in need of renovation, just a short drive into Chester) and Old Golborne Hall in Tattenhall at £2.75m (a statuesque country house with both character and modern amenities including a leisure suite). 

To find out more about either of these and anything else we have in our off market sales please do contact us  to discuss your requirements:
01244 328361