Approaching home owners directly offering to buy - has anyone done this successfully

AndyT678

Wizzbang wrote: »

I also feel that as this is business, a letter gives you more of a legal leg to stand on (if it were ever needed).

What business? This thread is about finding a home to live in.

And what sort of a legal leg do you think this gives you? Why would you need one? If you think the old folk will mistake your canvassing for burglary then just leave your balaclava at home.

QTPie

Yes, we had success and are currently living in our new home found this way (completed mid-March this year). I would recommend it, as long as you are not expecting a bargain: expect to pay market value. We were looking for a large family house in a very popular area - the good ones exchange hands before reaching the market...

We did include our address in our letter drop, but nobody wrote back - all contact was email or phone call (even those over 70). So I doubt that you would loose out too much by not including an address. But it depends on the area that you are mail dropping (am assuming you aren't looking at a war zone...)

Wizzbang

AndyT678 wrote: »

What business? This thread is about finding a home to live in.

And what sort of a legal leg do you think this gives you? Why would you need one? If you think the old folk will mistake your canvassing for burglary then just leave your balaclava at home.

No need to be so rude! Buying a home is a kind of business transaction, you should certainly approach it as such and not let your heart rule your head.

Writing a letter is the business-like way to do things. That way you can provide proof if ever needed in a court of law. So if someone said come and look at my house, this is the asking price- you would have written proof of what they had quoted, if they tried to change their mind later on- as some folks are known to do. All likely scenarios in the world of house buying.

And yes, we are looking to pay market-value- as you say- the good homes are gone before they even hit the market!

QTPie

I think that the first correspondence is just an "introduction" rather than a "business transaction". Like any method of house buying, nothing is "legal" (set in stone) until contracts are exchanged.

In fact, our house buying experience (following letter drop) was drawn out and involved a £50k price rise. Nothing to do with us "not having things in writing", just that circumstances and markets change. We were in a "take it or leave it situation" and decided to go for it (no regrets).

A letter drops just gets an introduction, perhaps, before anyone else's. No-one is then required to sell or buy and no price is set in stone. It is more like a first (blind) date than business.

silvercar

Our buyers found us by putting a note through the door. initial communication was via text message. All worked out very smoothly.

Wizzbang

Well, it has definitely proved worthwhile. Dropped in just over 40 letters and have had 3 good leads from it. 2 houses we are going to view and we hope to buy one of them!

Ameelija

Hi All,
Has anyone has any recent success stories of dropping off a letter to their dream house and getting a positive answer?


I have found a house that I really like, and it was on a market 5 years ago and it didn't sell ( can`t find information as to why it didn`t sell), so hoping to send a letter to the owners at the end of this month asking if they are interested in selling their house in next few months. Would it be silly to think that I could get that house for roughly the same asking price as it was 5 years ago? (I have contingency of 10% increase of that listed price 5 years ago). I know that they haven't done anything to the house in those last 5 years.( you can tell that by the state of the windows and garden).

TBeckett100

As soon as you drop off the note the vendors will no doubt get an agent round to suggest a price.

somethingcorporate

Depends on the area. In london 10% won't come anywhere near enough, in rural yorkshire you may be ok.

Windsorcastle

SailorSam wrote: »

My Mum was a taxi driver and when she was house hunting she just mentioned to a fare in the cab that the house where the woman was getting out was the type she'd been looking for. The woman said it was her Sisters and they'd been hunting themselves as they wanted to move.
Put an offer in that night and still here 30yrs later.

I love this and it is a great example of serendipity which I am fascinated by BUT in general:

I don't understand this thing about buying blind in a particular road. The properties in any road, even in a popular area, will be varied in condition, maintenance, layout etc.

I have recently viewed 3 flats on the same road in North London which were laid out differently.

Or am I missing something? I'm getting the impression from this thread that people will bid blind on properties in the 'golden' area, or are they at least viewing first?