Home Buying in Point Breeze>Question Details

Allison Edwa…, Home Buyer in Philadelphia, PA

what does off market means?

Asked by Allison Edwards, Philadelphia, PA Thu Aug 11, 2011

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6
It means not actively listed with an agent that uses the mls system. It may still be for sale. 99 percent ofnthe time it does mean it's not for sale
0 votes Thank Flag Link Mon Aug 22, 2011
Allison,

It could mean a number of underlying things. But what it ultimately means to you is that it is not available for you to buy at this moment. Have your agent check to see why the home went off market.

Ben
0 votes Thank Flag Link Fri Aug 12, 2011
Hello, Allison,

Off the market can mean many things:

1. It is Temporarily not being shown at the seller's request. Maybe someone is ill or they are fixing something.

2. The owner has decided not to sell

3. There is an outstanding offer and the seller will not be having any more showings

At the end of the day, it clearly means that the house is not being shown for one reason or another. The best line of attack is to ask the person with whom you are working to find out some details. Most listing agents will share the reason why a home is no longer available. If you are lucky, maybe it will be coming back on the market soon.


All the best.

Carol Cei, ePRO, Realtor
Five Star Professional
#16 in ReMax of PA&DE
215-35-1100 x1223
carol@carolcei.com
ReMax Action Realty
Web Reference: http://www.carolcei.com
0 votes Thank Flag Link Fri Aug 12, 2011
Hi Alison,

There are many reasons why a property may be clarified as "off the market" Some of the common reasons include, but are not limited to:

The seller changes their mind; the listing expired, the property was foreclosed, the seller already entered into a purchase contract with a buyer (usually referred to as "pending sale"); there may be a title issue the seller needs to resolve before marketing the property, etc...

Whatever the case, your Realtor can call the listing agent to investigate the details if you are very interested in a particular property. Best of Luck!!
0 votes Thank Flag Link Fri Aug 12, 2011
The property is not for sale at the present time.
The listing of the property could have expired or been withdrawn for a myriad of reasons.
Web Reference: http://www.321property.com
0 votes Thank Flag Link Fri Aug 12, 2011
It just means the property is no longer being offered for sale. There could be any number of reasons from the seller changing her mind to the property being foreclosed by the lender. A savvy agent should be able to give you an idea of the exact situation.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Thu Aug 11, 2011
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