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Off market deals seem to be a morass

I am well familiar with real estate regulations in my state /county. I have a home that has had major renovations and is still shy of being readily sellable on the open market as a move-in solution. I am also very busy with my non-real estate work so this is a distraction.

That all said it has not been my experience that selling to "We buy ugly houses" / "We make selling easy" has led to either (a) accepting a house with significant drawbacks or (b) not making the transactional side easier (and in fact typically more complicated).

A core issue is we don't know enough about the buying team and their methods. The MLS forms provide significant legal and procedural scaffolding including the expectations on the process and an understanding borne by legal precedents on how the terms are interpreted. This is a bigger deal than might be thought because ambiguities do regularly show up. For off market deals the buyers will craft the contracts to suit their needs. The seller will tend to be at the mercy of "well it's not in the contract" for such items as earnest money, timing of release of contingencies and more.

So then what is the alternative? It may well be the case that hiring a real estate pro to assist might be of benefit. But don't just assume a pro will know. I've gone to well known and respected pro's that do work in the cash/wholesale business but turns out they're mostly sale people with little understanding of the procedural an legal intricacies and close to none about the details of home repairs and how to convey them to buyers. It has been eye opening. So then how to find a pro that is truly well competent and will navigate how to put a not-quite-there home and reach safe buyers? It is looking like getting all the way to the MLS is likely the best way. How to identify these pro's is a WIP. In the meantime I actually have gone very far in the understanding personally and believe this approach would serve others. It's like getting a car repaired. Even if you were not a mechanic it vastly helps the outcome to understand what repairs are needed, how much they should cost and how to go about it.

Have others had a different experience? In particular how many out there have actually gotten a real solid net price for their property - let's say at least 93% of retail /market price - and had a smooth process going with an off market deal? Anyone? On the flip side, going the MLS approach did you NET out with > 93%? Meaning - when discounting the listing agent and buyer's agent commissions (if any) did you still end up only sacrificing a lower single digit percentage of the sale price?

submitted by /u/ExcitingRanger
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source https://www.reddit.com/r/RealEstate/comments/1qboi9k/off_market_deals_seem_to_be_a_morass/
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