Buyers Agent

BobT36

Just offer what you think it's worth..
And put yourselves in their shoes, what would YOU accept if you bought that house, and then someone was trying to entice you to up and move within a year? Offer fair value, then they either take it or don't. 

As to those negotiation companies, as you've found they're more geared towards MUCH higher value properties (hence why most are in london). When looking at a property in the millions, a small percentage saving is worth a lot. Less so with 80k lol. 

TBG01

So you've already approached them and they've said no, and you won't pay "silly money" I.e you know it's going to cost way more than it's value, and what they paid.

So what's left negotiate?

Oh but it "has personal significance", I'm sure it does now to the current owner, and "theres nothing else like it around", okay so they'll likely have to move elsewhere and pay more for which you have thankfully given an example of prices.

So if we factor in paying off the mortgage, the likely hefty early redemption fee, increase in interest rates, solicitors fees, surveyors fees, removals, decorating and furnishings, I reckon the £200k figure you mention should do it.

Personally, I'd be politely saying to do one if I had already told someone no, yet they went on to pay someone to try and get the lowest figure possible out of me.

Debbie9009

If it were me, I would want the amount it will now cost me to buy the same type of house, plus all costs such as solicitors, survey, and mortgage redemption fee etc,  and another 10k minimum extra for inconvenience / to make it worth my while.  So I suspect you are unlikely to get it for 90k especially if they are not considering moving at the moment.

I would start by asking them how much they want for it and see if that’s anywhere close to what you are willing to pay.

BlueVeranda

Previous thread: https://forums.moneysavingexpert.com/discussion/6461269/buying-a-house-thats-not-for-sale/p1

Summary: no the house isn't for sale but the current owner did respond to OPs letter, so that to me doesn't immediately scream that they aren't interested in selling.

I'm also not a great negotiator, but sometimes you just have to step up and try your best. Try to put your personal feelings about the house to one side as best you can. It's hard to believe but if this doesn't work out, something else will come up at some point.

If you know they paid £72k two years ago that's a start - you can assume they definitely won't accept less than that. Where has the figure of £80-84k come from? You can either run with £84k as the expected current value or ask them to arrange an independent valuation (you could offer to cover any costs for this as they wouldn't need a valuation if you weren't wanting to buy).

If you will need a mortgage then your offer needs to be somewhat close to market value as the lender will do their own valuation on the property and won't lend more than they think it is worth. Don't forget that you will also need to pay your own costs (moving, surveys, solicitors) out of your budget as well.

Wonka_2

Smalltownhypocrite said:

I know what the house value is, its valued between £80-£84k and last sold for £72k (2 years ago) we have a max budget of £110k but would obviously prefer to get it for in say the £90k range. 

So who says it's valued between £80-£84k ? And is that valid based on similar in the area ? Assuming £90k is higher than anything that's sold then you make an opening gambit at £85k and see what they respond with - if they say £110k that you smile sweetly and walk away - if they say £95k then you start playing.

You don't need an agent to do this on your behalf

eddddy

The way you've posted in your 2 threads makes this all sound a little bit far fetched...

• You've found a house that you want to buy - but it's not for sale.

• So you want to hire somebody to persuade the owner to sell it to you for a 'reasonable' price.

Have you discussed this with the current house owner?  How did the discussion go? What did you say and what did they say?


What do you hope a 'buying agent' might say to the current owner to persuade them to sell their house to you, and to persuade them to sell it at a 'reasonable' price?

Smalltownhypocrite

propertyrental said:

Smalltownhypocrite said:

Grizebeck said:

Yes I know the area
What you need is a Surveryor to do a valuation for you
Stanley is a cheap area! Especially round south moor etc. Do you actually know stanley at all? Some areas I would avoid
Consett is decent 

I know what the house value is, its valued between £80-£84k and last sold for £72k (2 years ago) we have a max budget of £110k but would obviously prefer to get it for in say the £90k range. 

They obviously want more to move than the 'value' to make moving worth their while. ...

Can I just clarify: is this property on the market? Is the owner wanting to sell?

Or are you approaching the owner on a purely speculative basis? Clearly that will impact on what price they might accept.

An owner who has not considered selling is only going to re-consider if offered a significant incentive.

But assuming this is a property on the market, with a owner wanting to sell, then the figures you quote above make clear you don't need an agent. You have a clear understanding of the market, so make a offer based on that.

The house was for sale a couple of years ago, we loved it but couldn't buy at the time and was bought so we approached the owners now we can buy with a letter of interest in buying and they have reached out and are considering selling it to us... this is why we need a professional negotiator who deals with non on the market properties (which buyer agents can do).

Smalltownhypocrite

TBG01 said:

So you've already approached them and they've said no, and you won't pay "silly money" I.e you know it's going to cost way more than it's value, and what they paid.

So what's left negotiate?

Oh but it "has personal significance", I'm sure it does now to the current owner, and "theres nothing else like it around", okay so they'll likely have to move elsewhere and pay more for which you have thankfully given an example of prices.

So if we factor in paying off the mortgage, the likely hefty early redemption fee, increase in interest rates, solicitors fees, surveyors fees, removals, decorating and furnishings, I reckon the £200k figure you mention should do it.

Personally, I'd be politely saying to do one if I had already told someone no, yet they went on to pay someone to try and get the lowest figure possible out of me.

Where on earth did I say they said 'no'?

People are just making !!!!!! up now.

Smalltownhypocrite

eddddy said:

The way you've posted in your 2 threads makes this all sound a little bit far fetched...

• You've found a house that you want to buy - but it's not for sale.

• So you want to hire somebody to persuade the owner to sell it to you for a 'reasonable' price.

Have you discussed this with the current house owner?  How did the discussion go? What did you say and what did they say?


What do you hope a 'buying agent' might say to the current owner to persuade them to sell their house to you, and to persuade them to sell it at a 'reasonable' price?

I want a buying agent to advise ME... this is an unusual situation that they specifically exist for. Its not far fetched, people make private deals on house (as the other thread shows, I literally took their advice and am now at this point).

I'm not 'pursuading' anyone of anything, people making it out like I'm harrasing some one but I followed MSE advice and posted one letter and THEY got in touch we ME they expect me to take the lead and I dont know how. I know the house values that was never in question or any part of the question.

There is literally NOTHING far fetched about coming on a money advice website to ask where I can get specific financial and property buying advice and services from for the biggest purchase I'm ever going to make.

Instead of answering the question now people are making !!!!!! up, insulting me, accusing me of lying and telling me I don't know whats going on or what I need.

I mean literally buying a house completely blind when I have no idea of the processes is mind numbingly stupid, all I wanted was pointing to financial advice for what I'm putting my entire life savings into.

Remind me not to both asking for help in future I'll just struggle on alone.

MeteredOut

Smalltownhypocrite said:

propertyrental said:

Smalltownhypocrite said:

Grizebeck said:

Yes I know the area
What you need is a Surveryor to do a valuation for you
Stanley is a cheap area! Especially round south moor etc. Do you actually know stanley at all? Some areas I would avoid
Consett is decent 

I know what the house value is, its valued between £80-£84k and last sold for £72k (2 years ago) we have a max budget of £110k but would obviously prefer to get it for in say the £90k range. 

They obviously want more to move than the 'value' to make moving worth their while. ...

Can I just clarify: is this property on the market? Is the owner wanting to sell?

Or are you approaching the owner on a purely speculative basis? Clearly that will impact on what price they might accept.

An owner who has not considered selling is only going to re-consider if offered a significant incentive.

But assuming this is a property on the market, with a owner wanting to sell, then the figures you quote above make clear you don't need an agent. You have a clear understanding of the market, so make a offer based on that.

The house was for sale a couple of years ago, we loved it but couldn't buy at the time and was bought so we approached the owners now we can buy with a letter of interest in buying and they have reached out and are considering selling it to us... this is why we need a professional negotiator who deals with non on the market properties (which buyer agents can do).

How much do you think a professional negotiator would cost? I imagine it'd be an up front cost (hundreds, if not thousands) and then a bonus on reaching an agreement? 

Since we're talking about a house at the lower end of the market, could you not first try to find out what figure might be agreeable to the current owners? If it's in your ballpark area of affordability, then get someone to negotiate on your behalf. If not, walk away with your bank balance intact and find some place else.

I'll be surprised if you can get it for under £100K once the current owners takes all their moving costs int account.