How To Buy Exclusive Off Market Property In London

Off market property in London

Why would anyone want to sell their property “off market”? After all one is more likely to achieve a higher price by exposing your property to the highest number of potential buyers as possible. In the best case scenario for a seller this would lead to a bidding war and an exceptional price being achieved.

In the normal property market this may be true. However, London’s finest residences rarely reach the open market because the owners may be:

Concerned about their privacy – they do not want absolutely anyone to be allowed to view their home. They certainly do not want pictures placed on websites (this is particularly true for A list celebrities or wealthy individuals who are unfortunate enough to be hounded by the press).

Worried about security – I viewed an apartment which was home to a quite astonishing collection of art. The apartment was worth £20m, but I was informed the works of art were worth five times that amount. Unsurprisingly only a select group of buyers were ever allowed to see this property. This situation is not as rare as you might think. Many owners of fine residences are avid collectors – be it wine, rare books, jewellery etc. Aside from material concerns, there is also the worry about personal security. Although the owners are unlikely to be present they do not want anyone to see their security arrangements.

Simply Very Discreet - Some owners do not want others to know what they are doing. They probably do not need to sell the property, but they like all their business to take place away from the public glare. Indeed the reason may be even simpler than this – the seller may just like conducting  business in a more genteel, old fashioned & private manner.

How Can You Buy These Properties? We use various methods to source off market property in London, some of which you will be able to use, some not:

Reputation - Sellers know that we only represent a select list of serious buyers. Therefore we frequently receive calls inviting us to view properties which are not on the market. Unfortunately, it is unlikely that you will receive such a call. One obvious option for you is to ask a property finder to act for you (you must make sure that they have a good network of contacts).

The other option is to make sure you are on the estate agents’ list of preferred buyers. Estate agents are often asked to sell properties discreetly. Therefore they will not tell most buyers and certainly will not add them to the websites. For more information on how to become a preferred buyer you should request your free copy of our report: “The Seven Biggest Mistakes London Property Buyers Make (...& how to avoid them) by filling in the form in the top right hand corner or at the bottom of the page.

Advertising - We occasionally take out advertisements in suitable publications. The copy should be simple and to the point. This can be an expensive way of finding off market property in London and you may well receive calls about totally unsuitable properties. However, we have had some success with this method.

Targetted Campaigns – We have been able to source suitable properties for our members by matching their requirements to properties that may have sold years earlier. We are then able to approach the owners to see if they would consider selling. Obviously our market knowledge about off market property in London is useful in this situation, but you can use a less targeted approach: If there are streets in which you are particularly interested, it may be worthwhile writing a letter to every owner enquiring if they wish to sell. In the letter it is important that you position yourself as an excellent buyer. If the owners had not considered selling their home up until this stage, the chances are they will want a clean and stress-free transaction.

Incentivise porters & concierges – If you wish to acquire an apartment in a building with a concierge, porter or caretaker, then you should make contact with them. After all they are the keyholders to the building and will possibly know who is planning to sell. This will give you a vital head start over other buyers when trying to fing off market property in london. If they cannot help on this front, they will be able to tell you which apartments will meet your requirements and you can then write a letter to the owners.

These are just a few of the basic methods we use, but they have proven to be effective over the years.

One point you must consider: If you are approaching an owner to acquire an off market property in London, then it stands to reason that they probably do not want to sell - In which case you will probably have to pay a significant premium for them to consider moving.  If you are not willing to do this then you may not want to go to the expense and effort involved with some these methods. In which case it is imperative you are on the agents’ preferred buyers’ list.

For more information on how to achieve this please request your free copy of our report: “The Seven Biggest Mistakes London Property Buyers Make (... and how to avoid them).

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