How to Buy Your Dream Home Even if It’s Not For Sale

Have you ever driven through a new neighbourhood only to turn the corner, and there it is…your dream home?

But, darn your luck, this dream home isn’t for sale. While the majority of us drive away, saddened, some people leave determined to make this home theirs – whether it’s for sale now or not.

And often, with the help of a great agent, they’ll do just that.

For real estate agents, it’s a form of cold calling: The clients point out an unlisted home they love, and the agent plays matchmaker, contacting the homeowners to see if they’re prepared to sell.

Some homeowners won’t budge, but for others, there may be incentive to sell. They may have considered selling but haven’t started the process. The house may have been on the market previously. Or, maybe the owner decides to jump at the opportunity.

If you’re interested in a property that isn’t for sale, here are some strategies:

  • Research both the property and its owner; public records or old real estate listings can give you an idea of value.
  • If you decide you’re serious about approaching the owner, your best bet is to ask your agent to do so on your behalf. It will show the owner you’re seriously interested. Consider sending or having your agent give the owner a handwritten letter, expressing why you’re interested. It will help personalize the process.
  • Be aware that you’ll likely end up paying a premium for a house that isn’t officially for sale.