Buying a house thats not for sale?

Smalltownhypocrite

Sorry if this sounds crazy, we are currently in a good position to buy a house (cash buyer not in a chain) but struggling to find anything suitable. Buying a house is all new to us as we have only rented before though.

In March 2020 a house came on the market for £80k which we loved. We weren't in as good a position back then (would have needed a mortgage) and due to lockdown we didn't get to view it and it went to auction where it sold for £72k.

We still love this house. The houses we are currently looking at aren't as perfect for us and they all cost £100k+. I'm tempted to go knock on their door and ask if they will sell the house if we pay them more.

The most expensive house on the street (the biggest end house) sold in 20 years ago 100k, the others are all sitting steadily over the last 20 years in the 70-80k sale range.

If someone knocked on your door and offered to pay you 25%-50% of the value of your house on top of what you paid just 2-3 years ago would you think they where a cheeky !!!!!! or would you consider it?

twopenny

When I was selling my house someone did knock and ask to buy. They put a letter through the letter box first with the proposition so a more gentle introduction, time for me to think before they knocked.

It was for sale but a glitch when the Beast from the East came and my buyer dropped out.

I would have loved for them to have it as big garden/2 small boys and he restored stuff well.

Unfortunately he was offering £10,000 less than someone esle did and had to sell his.

So it's worth a try. You loose nothing.

My one question is, why did it have to go to auction? Usually it's because there's going to have to be a lot of work done because there's a problem.

I saw one bought at auction I'd have loved. Heck of a lot of work but they did it bit by bit now I really envy what they've got. I could see the potential (view over the bay from most windows and garden with woodland beside.

What is the big draw to this one? You have to do it because you love it.

The one I loved was bought and the 'renovations' were everything I wouldn't do so when it returned to the market no way would I take that on plus they didn't solve the problems that were there to start.

Badly thought out and they didn't make the profit they'd hoped.

Martico

Give it a go, why not. 
I wouldn't take offence if someone were to knock on my door and ask

Smalltownhypocrite

I think it went to auction mainly due to lockdown. It went on the market like a week before lockdown hit and sat on the market for months but we didn't go to view because we figured you would be allowed due to Covid. Maybe others thought the same.

The big draw is its big enough and right in the center of town. No more commute, no school run and everything we need literally on the doorstep. It was also move in-able decor wise (really quite nice). It doesn't have parking or a garden and the front door is right on the pavement (no garden/yard etc...) and its a terrace which are down sides but we figure for our budget we can't have everything and the placement and size win over the other things.

user1977

Is it owner-occupied? Auctions tend not to be where buyers who need a mortgage end up.

baser999

On Location Location a couple of times they’ve gone and pushed flyers through houses on the clients preferred streets; sometimes that elicited responses. Try that, no harm done. And they needn’t know that theirs is the only house you’ve targeted 😏

Smalltownhypocrite

user1977 said:

Is it owner-occupied? Auctions tend not to be where buyers who need a mortgage end up.

I don't know. I was curious if it could now be a rental income house or if someone bought it as a 'forever home' (like we are hoping to do) but I have no idea how to find that out. There is a sign on the door now saying to deliver all mail to a house further up the street but thats all I know.

user1977

Smalltownhypocrite said:

user1977 said:

Is it owner-occupied? Auctions tend not to be where buyers who need a mortgage end up.

I don't know. I was curious if it could now be a rental income house or if someone bought it as a 'forever home' (like we are hoping to do) but I have no idea how to find that out.

Well, knocking on the door is probably one way! Just pointing out that it is likely to be a tenant who answers.

caprikid1

Based on what you say struggling to understand the prices.

I would suspect a knock on the door for a house purchased 3 years ago at auction is probably not going to sell at 20% more.

Do you have photos of it from auction ? It may have had in excess of £30K spent on it.

sheramber

My mum's next door neighbour did sell to someone who knocked on the door and offered to buy it for a sum they  were happy to accpet.

 They moved to another house on the same estate.

badger09

If you knocked on my door out of the blue, I would say no thanks I’m not interested. I might also be suspicious that you had some ulterior motive eg checking if house was occupied during the day. 

However, if you put a note through my door setting out why you were interested in buying my home, that you would be cash buyer, no chain etc and left a contact number, I would at least consider it. If I had even the vaguest notion of selling, I’d phone you to discuss further. If I wasn’t interested, I’d message to say so. Because I’m a polite person😉