Direct to vendor is often abbreviated as DTV. It’s a term used when a purchaser buys a property directly from the vendor, off market, without using an estate agent.
The vendor does not pay expensive commission to an estate agent, and there is no need to market the property. The purchaser may pay below market value, as others purchasers have not been able to make a competing offer.
An example might be if a landlord wishes to sell his or her portfolio to another landlord, and wishes to avoid using an estate agent. The purchaser hears about the landlord’s situation by word of mouth, and contacts the seller directly.
Potential purchasers looking for a Direct to Vendor deal often use adverts, leaflet drops or signs to find people wishing to sell to them off market.
