5 Ways to Buy Real Estate Not Listed on MLS

Written by Posted On Monday, 06 August 2018 10:38

MLS is the go-to option when searching for real estate for sale. It's quick, it's easy, and it's convenient. But you also miss out on a lot of properties if this is your only resource.

Believe it or not, there are other ways – like the five listed below – to find real estate for sale.

1. Homes in Foreclosure

Foreclosures and REOs (real estate owned) can be found on MLS, but you can also find them through specialty real estate portals online.

Banks often list foreclosed properties online, and these listings typically include photos, prices, home descriptions and agent contact information.

Listings may also be found on Freddie Mac and Fannie May.

Other ways to find foreclosures:

  • County offices
  • The Department of Housing and Urban Development
  • Real estate agents

2. State and Local Auctions

A home may be put up for auction if the owner defaults on the mortgage. On the other hand, some sellers – usually those with luxury properties – prefer to sell their property through auction.

Either way, you're sure to find properties that are not listed on MLS. Newspaper ads and online searches are two effective ways to find home auctions.

3. Social Media

Social media isn't usually the first thing that comes to mind when searching for real estate, but it can be a valuable tool in helping you find properties you won't find anywhere else.

Take the @Luxury_Listings Instagram account, for example. They share multimillion-dollar listings that you won't easily find anywhere else. Luxury Listings has one of the fastest growing YouTube channels and from what we’ve seen they're working on a

website, too, which will provide another avenue for finding high-end real estate.

People use social media to find jobs. Why not use it to find your next home?

4. Drive Around Town

Find a neighborhood that you like and take a drive around. Are there any properties that look dilapidated or in need of repair?

Write down the addresses of any properties that catch your eye, and do some digging when you get home. Public records should tell you who owns the property. There should be contact information listed, too.

You may be able to do a reverse phone search, or you can simply mail a letter inquiring about buying the property to the address listed on the record.

Driving isn't the only way to find potential properties. You can use sites like Zillow and Trulia along with Google StreetView to find potential properties. This can be especially helpful if you're looking to buy outside of your local area. Zillow will provide estimated values, while StreetView will give you an outside look at the property.

You can use this information to find the owner of the property and contact him or her about selling.

5. Real Estate Agents

Real estate agents are often the best source for finding property – listed or unlisted. They're the first people sellers call when they're ready to list, and they have the ability to show you properties that aren't even on the market.

If the housing marking is hot in your area, talk to your real estate agent about viewing homes before they're even listed.

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James Stevenson

Hi, My name is James and I've been involved in the property and real estate industry for 10 years now. I hope people will like to read about my thoughts and experiences in the industry and please contact me if you want to discuss my articles further!

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