Hi all,
Happy New Year!! I hope you all have your visions set for a smashing 2014! I have no doubt of achieving visions where there is strong intention, vision coupled with emotion (to keep you going).
We've had our eyes on a corner lot around 1000 sqm where there is an existing house and enough room to build a second street facing dwelling, while retaining the existing house.
The house was on the market around mid 2013. When I saw the ad, I had thought what a perfect lot for us. But it hadn't crossed our mind we wanted to build. The asking price was 715k+. The vendor received multiple offers and after a few months around 715k as per the then listing agent. The vendor then changed their mind and took it off the market. We see there to be a 30% on the deal at the end of the build @ 750k purchase price.
Late in the year we spoke to a local agency owner who was happy to go door knocking for us. So the agent got one of the guys to go talk to the vendor (and a few other lots we had short listed). Got back a convoluted response and eventually we saw the agent who actually went and spoke and figured that the vendor was going to decide in the new year (although initially he said the vendor would decide in 6 months and then when we pressed for more info and that we are happy for a delayed settlement, that's when we heard they would decide in the new year).
Now we are thinking of calling the vendor directly....OR although not too comfortable with the idea, drive over and talk to the vendor. But concerned that we don't want them on the back foot; neither do we want them to think, suddenly their house is worth a million dollars...
Has anyone used this strategy before? I think we are offering well above fair market value at 750k and they would save agency fees...........
Appreciate your thoughts.
Many thanks,
MsAli.
Happy New Year!! I hope you all have your visions set for a smashing 2014! I have no doubt of achieving visions where there is strong intention, vision coupled with emotion (to keep you going).
We've had our eyes on a corner lot around 1000 sqm where there is an existing house and enough room to build a second street facing dwelling, while retaining the existing house.
The house was on the market around mid 2013. When I saw the ad, I had thought what a perfect lot for us. But it hadn't crossed our mind we wanted to build. The asking price was 715k+. The vendor received multiple offers and after a few months around 715k as per the then listing agent. The vendor then changed their mind and took it off the market. We see there to be a 30% on the deal at the end of the build @ 750k purchase price.
Late in the year we spoke to a local agency owner who was happy to go door knocking for us. So the agent got one of the guys to go talk to the vendor (and a few other lots we had short listed). Got back a convoluted response and eventually we saw the agent who actually went and spoke and figured that the vendor was going to decide in the new year (although initially he said the vendor would decide in 6 months and then when we pressed for more info and that we are happy for a delayed settlement, that's when we heard they would decide in the new year).
Now we are thinking of calling the vendor directly....OR although not too comfortable with the idea, drive over and talk to the vendor. But concerned that we don't want them on the back foot; neither do we want them to think, suddenly their house is worth a million dollars...
Has anyone used this strategy before? I think we are offering well above fair market value at 750k and they would save agency fees...........
Appreciate your thoughts.
Many thanks,
MsAli.