Buying houses not on the market or sold subject to contract

Nebulous2

Where I stay houses have a low turnover and in the time we've been here we have twice had someone leaflet the whole street looking to buy one. It seemed to work as well. A couple of months after the most recent one our next door neighbour told us that she was putting her house up for sale. I reminded her of the leaflet and she said she had already phoned them, but they had already got somewhere.

So you've nothing to lose by that. It would be a low-percentage game and I think you'd need to do a lot of houses to get a return.

Some people will be frightened, some will think its a scam, some will have no intention of moving, but you might just find someone who is intrigued and curious enough to give it a try.

Cakeguts

What is wrong with the houses not sold SSTC that are still on the market in your area?

JoJo1978

It's hard to keep feelings out of the equation no matter how hard you try. The reason we waited before offering on our now home was because we were gazumped shortly before on another house and the hurt we felt was still raw (we'd instructed sols and booked a survey.) We didn't want to do that to someone else.

As it turned out that vendors' play to secure the highest bidder didn't work out at all. That transaction fell through and it's now back on the market for the third time this year. Needless to say when the agent called us back we declined to re-offer when they did crawl back!

PokerPlayer111

JoJo1978 wrote: »

It's hard to keep feelings out of the equation no matter how hard you try. The reason we waited before offering on our now home was because we were gazumped shortly before on another house and the hurt we felt was still raw (we'd instructed sols and booked a survey.) We didn't want to do that to someone else.

As it turned out that vendors' play to secure the highest bidder didn't work out at all. That transaction fell through and it's now back on the market for the third time this year. Needless to say when the agent called us back we declined to re-offer when they did crawl back!

If you did still like that property you could have re-offered less for your inconvenience, it seems fair to me in that case, they would understand i think.

Katgrit

I've lived in 3 houses, and 2 of them (the 1st and this last one) where "notes through the door" purchases. The first house was a little estate of just 3 cul-de-sacs and I leafleted the two bigger ones, got a call just as I was getting back in my car to leave! The house I live in now was SSTC and I sent them a letter (I lived 80 miles away but wanted to move back to my hometown) saying if the sale fell through to get in touch. Few weeks later that actually happened and the owner text me. I think I'd find out really strange to deal with an Estate Agent now....I wouldn't be able to trust them for a start!

I don't think it would be fair to try gazumping if houses are SSTC and I certainly wouldn't knock on the door. People generally would think you were a loon. Best do it on paper so they can read through it in their own time.

Linauk

Ive made an offer on a property whilst it was under offer (it had only been placed under offer that day). It's a really active market in the area i live and you barely have time for a 2nd viewing before the half decent properties are placed under offer.

Ive heard of people sending letters before and securing properties that way - it's no different to estate agents posting adds / mail shotting where propsective purchasers want to secure a property in a particular area. Also saves on estate agent fees!

PokerPlayer111

Katgrit wrote: »

I've lived in 3 houses, and 2 of them (the 1st and this last one) where "notes through the door" purchases. The first house was a little estate of just 3 cul-de-sacs and I leafleted the two bigger ones, got a call just as I was getting back in my car to leave! The house I live in now was SSTC and I sent them a letter (I lived 80 miles away but wanted to move back to my hometown) saying if the sale fell through to get in touch. Few weeks later that actually happened and the owner text me. I think I'd find out really strange to deal with an Estate Agent now....I wouldn't be able to trust them for a start!

I don't think it would be fair to try gazumping if houses are SSTC and I certainly wouldn't knock on the door. People generally would think you were a loon. Best do it on paper so they can read through it in their own time.

Nice job, yeah i would prefer not to deal with estate agent. Going to mail bomb a few houses

MRPEEVED

As a seller, I would ring the estate agent for their opinion. In my experience, estate agents are very helpful and they would keep your details in case the sale falls through or even ask the vendor how they would feel if they were to be offered more. Better to not regret what you didn't do.

As a buyer, I would suggest you don't. If the vendor was to accept your offer it could be very upsetting for the people who made the first offer.

Go with your heart. Propertys come up all the time.