Question of the week:
Can I approach the owner of a delisted or suspended property?
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I am currently following many condos/towns that I would be interested in to follow price trends, but notice about half of them are being delisted/suspended due to a slow market for condos. I am not looking to move for a few more months. If those few months pass and the unit isn’t relisted, can I reach out to those owners who delisted recently? How do you see the listing agent on a delisted/suspended house – can you on HouseSigma? Is this even worth doing? banks just slow, or does the delay tend to be an indicator of iffy buyer ability to pay mortgage?
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Nick's Response
The answer depends on whether you’re working with a Realtor. A Realtor can simplify this process, but it’s also possible to search on your own. Here’s how:
If You’re Working with a Realtor
- Access to Historical MLS Records:
Your Realtor can access all historical MLS records, including listings that have expired, been canceled, or suspended. This search can easily filter out properties that haven’t been relisted. - Reaching out to the Homeowner:
Your Realtor can contact the homeowner or their previous agent to determine if the seller is still interested in selling the property.
If You’re Searching on Your Own
- Keeping Track of Properties:
Create a spreadsheet of the properties you’re interested in, recording the address, price, and MLS number. Later, you can check platforms like HouseSigma or other virtual office websites. If the property isn’t marked as sold, it likely hasn’t returned to the market. - Direct Contact with Homeowners:
You’re within your rights to approach homeowners directly. You may get rejections, but dropping off a letter or knocking on the door could yield results. However, many homeowners are cautious about direct approaches due to concerns about being exploited by less trustworthy buyers.
A Note on HouseSigma
HouseSigma is a useful resource, but remember, it’s just another brokerage. If you’re planning to choose your own Realtor, skip this step and let them handle the search.
Three Final Tips:
1
Use a Realtor for Efficiency – A Realtor has the tools to make finding delisted homes simple, saving you time and effort.
2
Document Your Search – If you’re going solo, keep track of properties carefully to follow up on suspended listings later.
3
Be Cautious of a Direct Approach – Many homeowners are wary of direct outreach, so approach respectfully and professionally.
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