Amber Wesley, Home Buyer in Orlando, FL

what does off market mean?

Asked by Amber Wesley, Orlando, FL Sun May 27, 2012

Help the community by answering this question:


Maggie Hawk’s answer

All you really know for sure when a home is "off market" is that it's no longer for sale. The reason why is another story.

It could be because the owner's plans changed. For example, a Seller might be selling because of a job transfer. If the new job falls through, the Seller no longer has a reason to sell, so the Seller will then want to withdraw the home from the market.

Or, the listing could have ended, and dropped out of the Multiple Listing Service. The Seller could now be at a point where he or she's deciding what to do next--whether to re-list with the same agent, or try a different approach to marketing the home with a new agent and company. Or just wait for a better market.

These days, a home could have been on the market as a short sale, but it didn't sell, and the Seller's lender completed the foreclosure and became the new owner of the home.

Since the previous listing was with the previous owner, and not with the previous owner;s lender, the home would be "off market" once it becomes the lender's property. At that point, the lender may put the home back on the market with another real estate company, or the lender may hold it and wait for the market to improve.

If a property you're interested in goes "off market", why not find a good Realtor who can help you track this home and others that might work for you.
1 vote Thank Flag Link Sun May 27, 2012
no longer available to Buyers.
0 votes Thank Flag Link Sun Jun 3, 2012
not sure why Truia advertises home that are not for sale. FRom a biyer perspective it is not much use. Having said that, it does give us agent the chance to interact with a buyer and help them with something that is actually for sale.

all of the home here on thsi sit are for sale.

I can help yuo buy any of them :)
0 votes Thank Flag Link Sun May 27, 2012
Hi Amber,

Off the market means that it is no longer for sale. Sometimes it is because the seller no longer wants to sell. It could have been for sale for a long time. Is there a specific property you are looking for? If you are looking for property I can help you find the right one that fits your needs. If you would like to be on a search I can do that as well. This way when something new hits the market then you see it as soon as it is listed. Let me know how I can better assist you with your real estate needs.

Jennifer Barker
Exit Realty Central
0 votes Thank Flag Link Sun May 27, 2012
If you are referring to a property that was offered for sale , then said property is no longer available to Buyers.
Veronica Ochoa,Realtor
407 404 0336
0 votes Thank Flag Link Sun May 27, 2012
Hi Amber,

Off the market generally means the property is no longer for sale.
0 votes Thank Flag Link Sun May 27, 2012
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