Buying a house thats not for sale?

Alnat1

Stick a note through several houses on the street (including the one where mail is delivered for the house you really want) Say you love the area and are looking to move, in rental now, cash buyer etc and give them a contact number. We've had a couple of letters like that since we moved in this house 4 years ago, so it's not such a strange thing to do.

Gives occupiers time to think and discuss the matter, a knock on the door doesn't and you're more likely to get a no.

Smalltownhypocrite

I wrote them a letter and have got home today to an answering phone message saying they want to discuss it with us. That means they're considering it right? I'm pretty nervous but excited now. 

I know I need to phone the back (preferably when my kids have been picked up so I can hear and think without the squealing or distracting me) but any ideas of tips of things I need to remember of say?

BlueVeranda

It's a good sign! I'd make a list on a notepad so you can see it during the call (and leave room to add notes when they talk).

Things they might want to know - why you like their house, would you need a mortgage (how "ready to go" you are) , what price you'd be prepared to pay - even if you covered that in your letter, it's good to have a note of it so it's in your mind.

Things you'd like to know, that'd be on Rightmove if you'd seen it on there, or could influence your decision - council tax band, approximate heating costs, school ratings if they might know that and it's a different school to the one your kids attend. 

Bonniepurple

Sounds promising.  FWIW we are in the process of selling my late parents’ house to the son of the next door neighbour.  He had heard that my Dad had died and knocked on the door to offer condolences and to ask if we had any plans for the house.  My brother and I had already agreed that we would want to sell the house (it’s not where either of us want to live) and so we were happy to accept his suggestion.  We save estate agent fees, he gets a house that he wants, his parents have someone next door to support but not overcrowd.  Win win all round.

Smalltownhypocrite

Would you suggest we speak to a solicitor before or after speaking to the people? 

As this is our first time I'm not sure when you should get a solicitor involved. I assumed after making an offer and having it accepted but google suggest they should be sought out before that point when you first see a house you like.

eddddy

Smalltownhypocrite said:

I wrote them a letter and have got home today to an answering phone message saying they want to discuss it with us. That means they're considering it right? I'm pretty nervous but excited now. 

I know I need to phone the back (preferably when my kids have been picked up so I can hear and think without the squealing or distracting me) but any ideas of tips of things I need to remember of say?

I guess you need to establish whether they are really thinking about selling their house, or whether they are just curious about things like...

- why you sent the letter?
- how desperate you are to buy the house, and therefore how high ridiculously high you will offer? 


Or maybe you have been lucky, and you caught them just at the moment they were thinking of putting the house on the market.

silvercar

We sold our last home to people who had put a note through the door.

First step is to see the property. I replied to the phone number on the note with brief details eg 4 bed, 2 bath detached with lovely big garden, we are expecting to get around £XX. If you are interested in viewing let me know.

MeteredOut

Smalltownhypocrite said:

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?

It sounds like good progress has been made, but do you know if the £72K it "sold" for is the same as what the buyer paid for it at auction? Did they have to pay the admin fees (~10%) on top of that, and was there also a buyers premium? 

Also, even taking into account the dip in the last couple of months, house prices have generally risen in the last 3 years, sometimes quite significantly. 

Good luck.

Grizebeck

Smalltownhypocrite said:

Would you suggest we speak to a solicitor before or after speaking to the people? 

As this is our first time I'm not sure when you should get a solicitor involved. I assumed after making an offer and having it accepted but google suggest they should be sought out before that point when you first see a house you like.

Not at all no

Schwarzwald

Smalltownhypocrite said:

Would you suggest we speak to a solicitor before or after speaking to the people? 

As this is our first time I'm not sure when you should get a solicitor involved. I assumed after making an offer and having it accepted but google suggest they should be sought out before that point when you first see a house you like.

after.
would expect this convo with them is to establish where the heads of each party is and to get to know each other. while good step forward, it could go either way, so just speak to them and then take it from there