As the real estate industry continues to adapt to changes in the market, alternative methods of buying and selling homes are becoming more prevalent. Hiring an agent to list on the MLS is no longer the only way to sell a property, as “off-market selling” is becoming a real option for homeowners seeking a faster, more streamlined, and ‘safe’ sale.
The benefits of an off-market home sale include the convenience of not having to prepare the home for sale, no repair costs to the seller because the home is sold ‘as-is’, no failed escrows/shorter close, all cash/no financing offer, and little to no physical contact with buyers or others for showings or inspections. An off-market sale can also help eliminate the very real health risks and exposure concerns involved in a traditional listing.
Off-market buyers are typically smaller “mom and pop” investors looking for homes to either “fix and flip” or rent out, or more institutional iBuyers (instant Buyers) who make offers on homes online. Unlike the traditional process, these buyers purchase homes As-Is, directly from homeowners. The off-market buyer offers a lower price than the seller may be able to net with a listed sale but allows the seller to avoid the inconvenience and investment of time and money for repairs/prep costs, since the buyer is purchasing the property in ‘as-is’ condition.
With these alternative options now available, it is crucial for any home seller considering such a sale to understand how to navigate through the off-market process. An off-market buyer should clearly outline their process, answer any seller questions, and provide transparency throughout the transaction. Unwillingness of an off-market buyer to provide information about closing timeframes, proof of funds, contingencies, contracts, and other details, should be a red flag warning to a home seller.
Senior Home Purchase Program, based in San Diego since 2015, is a real estate investment company with a unique, niche service offering senior homeowners a transparent, streamlined, and guaranteed way to sell their home off-market. Siblings Rob Perkins and Corinne Ross created SHPP after a decade in real estate investing, and after experiencing the challenges involved in helping grandparents move. SHPP purchases homes directly from seniors transitioning into senior living communities, and “guarantees a certain sale, at a certain price.”
SHPP purchases the home in its current condition, allows the seller to leave behind clutter and unwanted furniture, and covers 100 percent of any costs associated with the sale. “In addition to saving the homeowner an incredible amount of time, and greatly reducing their stress, SHPP offers the best price possible to our senior home selling clients. We are transparent in illustrating how an SHPP offer differs from a traditional offer,” explains Perkins. “With no hidden costs or fees, our off-market offer is very compelling to the homeowner.”
“SHPP also provides a flexible timeline for moving,” adds Ross. “Our seniors are often in a position where they don’t know the exact date of their move into a community,” she shared. “This can be very stressful, so we provide flexibility with closing dates, as well as a leaseback option if needed.”
Transparency, integrity, and client comfort level are top priorities for SHPP. “Most of our customers are referrals, so the trust factor is big for us,” Ross explains. A former client shared, “Their honesty, transparency, and diligence made me feel completely comfortable with them. The process was exceptionally easy and stress-free.”
Perkins and Ross emphasize another benefit to sellers: “SHPP’s process can alleviate many of the concerns and stresses of selling that have arisen during the pandemic. Our goal is to offer a certain, safe, and stress-free solution to our clients during this very uncertain time, and we are thrilled to now be servicing Orange County, as well as other areas, as we continue to expand to help our senior customers.”
Market Manager OC