Property Q&A in Greensboro>Question Details

Faith Allen, Other/Just Looking in Greensboro, NC

what does off the market mean?

Asked by Faith Allen, Greensboro, NC Wed Aug 24, 2011

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This question is about this property: http://www.trulia.com/homes/North_Carolina/Greensboro/sold/2…

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This means the property has been removed from being "active" or "for sale." However, sometimes, these properties are "off the market" for only a short time. Be sure to have your Buyer Agent ask the List Agent why the property has been taken off the market. =)

Hope this helps!
1 vote Thank Flag Link Wed Aug 24, 2011
Case and Point - make sure you have a BUYERS AGENT. They will find this out for you in seconds and make it a stress free process. best part is that most of the time it is for FREE! =)
0 votes Thank Flag Link Wed Aug 24, 2011
Faith,

Everyone below has let you know what "Off The Market" means to us. For your information though the home at 5620 Harbor House was listed as a "short sale" property. Usually these homes are already in default on their mortgage and it is a race to see who will win the foreclosure attorney or the homeowner and real estate agent. In this case I have spoken with the listing agent and the home is going to stay off the market. The bank has moved forward with the foreclosure so if you wait the home will reappear on the market as an REO property being sold by the bank.

I did not pull the exact foreclosure date but if you like I can get it.

Hope this helps,
Web Reference: http://totalcarerealty.net
0 votes Thank Flag Link Wed Aug 24, 2011
It just means that at this point in time, the Seller has decided not to sell or not to sell right now. It could be any number of reasons dictating this action: doesn't NEED to sell so waiting for the market to come back -- get more money for the home later, having lots of company so temporarily taking it 'off the market' so they do not have to concern themselves with showings during the Labor Day Holiday, in the process of being foreclosed, etc.

Hope that helps. nancy
0 votes Thank Flag Link Wed Aug 24, 2011
"Off The Market" means the property is no longer for sale and is not on the Multiple Listing Service. There could be several reasons why this happens. Sometimes the the seller wants to take a break and see what direction the real estate market is headed before putting it back on the market again.
0 votes Thank Flag Link Wed Aug 24, 2011
Josh is absolutely correct. Homes are "withdrawn" from the market by the Seller for a variety of reasons or an active listing period will "expire" as the seller determines if they want to relist the home. Either way, your buyers agent can assist you in determining the cause. If you are not currently working with agent, please be sure to take advantage of an experienced agents resources as they are often free of charge to you as a buyer.
0 votes Thank Flag Link Wed Aug 24, 2011
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