Buying a house off market

gadget88

Is it worth doing? A house I went for last year they wouldn't even take £10k over as I had not sold. I have inheritance money coming if I was to say I'd pay £30 to 40k over a home report. I have heard of house selling off market would this improve my chances with such a high offer? 

Flugelhorn

not sure what you mean? are you asking someone to sell you a house that isn't been marketed yet? or to accept an offer and take the house off the market while you sell yours?

honestly most people won't accept an offer unless you are a full cash buyer or under offer - offering more is unlikely to help

TroubledTarts

When are you expecting to get the money to buy, given inheritance money can take some time.

I would wait until you have that money in the bank before making your move to purchase or you won't be taken seriously.

born_again

gadget88 said:

Is it worth doing? A house I went for last year they wouldn't even take £10k over as I had not sold. I have inheritance money coming if I was to say I'd pay £30 to 40k over a home report. I have heard of house selling off market would this improve my chances with such a high offer? 

Has that house still not sold?

Have you sold yours?
Would the inheritance be enough to become a cash buyer?

gadget88

born_again said:

gadget88 said:

Is it worth doing? A house I went for last year they wouldn't even take £10k over as I had not sold. I have inheritance money coming if I was to say I'd pay £30 to 40k over a home report. I have heard of house selling off market would this improve my chances with such a high offer? 

Has that house still not sold?

Have you sold yours?
Would the inheritance be enough to become a cash buyer?

No sadly not. Even with the sale of mind I could still only find half the money

Caz3121

much will depend on the market in your area and what % over or under home report prices are coming in at. Is £30k to £40k more than a seller is likely to achieve in an open market?
Have you thought on how you would find this property? - leafletting through doors, posts on social media being specific what you are looking for?
I have purchased off-marked in Scotland. Property of friend of family was going to be marketed but managed to get in to see it first and agreed price (over home report and what the seller needed for onward purchase) to stop it going on market...at the time o/o bidding wars were crazy in the area....yes the seller could possibly have got a higher price but they would also have agents fees and inconvenience of viewings and may have lost their onward purchase depending on position of buyers (we had sold and moved to rented to be in best position to offer flexibility of dates) so they were happy and we were happy.

gadget88

So the last time these houses came up I offered £10 thousand over home report. Final price on both went for that price and they had sold first. The agent did tempt them at £240k but they declined. One has come up this time i expect again it may sell atleast 10k over. I have done my figures and can max out at 10-20 thousand over that so 30k over home report. I mean I can’t predict what will happen but would 30 grand over be enough? Given I’ve not sold yet I’d be offering alot more than market value? Dilemma is it enough money?

gadget88

So yes about 30 grand over and 20 over what it may actually sell it. Sadly I don’t have the Inheritance yet so can’t manage anything over 20-30 over that home report price?

RAS

Home Report? Are you in Scotland?

gadget88

RAS said:

Home Report? Are you in Scotland?

Yes Scotland 

comeandgo

I would never take an offer from someone not in a position to complete. Is your house on the market yet?  If you want a particular type of house, and only that style then I think you would have to be in a position to put in offer immediately it comes to market.  I’d sell and move into rented and wait.