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Selling Rental off Market

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  • 25-05-2021 3:52pm
    #1
    Donie75
    Registered Users Posts: 1,109 ✭✭✭


    Hi.
    I contacted an Auctioneer last year to enquire about selling a rental property that I have. I was just looking for information on approximate value, etc. as I need to go through the full notice procedure. I am nearing the end of the notice period including the extensions due to COVID Level 5 Moratoriums. The auctioneer rang me last week to see if I would be interested in selling off market as he has someone looking to by a property the same as mine.
    He originally said a fairly high figure might secure it but now he is saying 10k less. Is there any benefit to selling this way or should I put it on the market?
    Is this a tactic to try to get you to list it with them?


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    #2
    jood22
    Registered Users Posts: 30 ✭jood22


    Depending on where you are I would absolutely put it on the market. We first considered selling our home ( we had to move abroad for work several years ago) in September. Like yourself by the time we saw out notice period and extensions etc due to COVID restrictions they have just moved out. House prices have gone up in the area by at least €10000, not down!

    I also wouldn’t use that auctioneer.


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    #3
    jimmycrackcorm
    Registered Users Posts: 14,339 ✭✭✭✭jimmycrackcorm


    What's the advantage of putting it off-market when you don't know how much it can achieve unless you have competitive bidding?
    Unless you are in a huge hurry to get rid of it and the optimum price doesn't matter.


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    #4
    spaceHopper
    Registered Users Posts: 3,993 ✭✭✭spaceHopper


    If there is price you'd be happy to take and they are a cash buyer then give them the price +plus a few k for fees and see what they say. If they say no then pick an EA and put it on the market. The EA is probably making it on both ends he'll charge you a fee and charge a fee to the buyer for finding it and dealing with you


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    #5
    CIARAN_BOYLE
    Registered Users Posts: 14,599 ✭✭✭✭CIARAN_BOYLE


    Very occasionally an off market sale will be at an inflated value because the purchaser has a direct interest in a house like yours.

    He might have already went through bidding and been defeated or have an attachment to that type of house for another reason.


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