There are a few houses that I really like, 4 in a particular street to be precise. How would I go about making an offer to the owners (I only want to buy one, but any of the 4 will do if anyone is willing to sell)? I've never attempted something like this before. Would I write a letter? Contact a local real estate agent? Hire a buyer's agent? If the latter, would it be cheaper since there will only be a very finite number of requests that I need him / her to make?
How to buy a house that's not for sale?
- Thread starter jerrybee
- Start date
I'd write a letter to each owner, drop it in their letterbox (assuming they live in the houses) and see what happens.
You could get an agent to do it, but you are then bringing the costs to sell (if they are interested) into it, because an agent will try to get a commission on the sale.
Also, everybody knows the agent letter with "someone really, really wants to buy YOUR property" letter is a bit old hat now, so a personal letter from you with your contact details is what I'd suggest.
You could get an agent to do it, but you are then bringing the costs to sell (if they are interested) into it, because an agent will try to get a commission on the sale.
Also, everybody knows the agent letter with "someone really, really wants to buy YOUR property" letter is a bit old hat now, so a personal letter from you with your contact details is what I'd suggest.
And make sure you get a conveyancer involved to draw up contracts if they express interest in selling.
I'd try a personalised letter and follow-up with a call a few days later.
Let us know how your go.
Let us know how your go.
What do you guys think of my letter? I've tried to keep it casual; I don't want to come across as an agent or investor (ha!). I?ve also kept it super short and sweet; nothing loses people's attentions more quickly than a huge wall of text. Also I wasn't sure on whether I should just be up front about the price I'm willing to pay. What do you guys think? Since they're not the ones initiating a sale, I think it's needed to at least get their attention. Also since I'm only really interested in about half a dozen houses overall I'm thinking of hand writing this.
************************************************************
Hi there,
I'm interested in making you an offer for your house. I'm not an agent; just a local looking to find my dream home. I absolutely love the street and I think your home has a certain charm that I find very appealing - <insert personalised text here describing their home, e.g. "my wife has fallen head over heels with your immaculate garden">.
If you are interested in discussing this please feel free to call me on <phone number>, and of course I would be more than happy to come and meet you in person.
Kind regards,
Me
************************************************************
Hi there,
I'm interested in making you an offer for your house. I'm not an agent; just a local looking to find my dream home. I absolutely love the street and I think your home has a certain charm that I find very appealing - <insert personalised text here describing their home, e.g. "my wife has fallen head over heels with your immaculate garden">.
If you are interested in discussing this please feel free to call me on <phone number>, and of course I would be more than happy to come and meet you in person.
Kind regards,
Me
I'd be concerned if you express too much interest in the place they might think they can charge you top dollar or less willing to negotiate.
Maybe still sound keen but slightly aloof so they think you may be willing to let it go too.
Maybe still sound keen but slightly aloof so they think you may be willing to let it go too.
Yup it's a fine line.
What do you think about this, I've tweaked the wording in bold to tone down the excitement:
Hi there,
I'm interested in making you an offer for your house. I'm not an agent; just a local looking to find a home in this wonderful area. I've become quite fond of this street and I think your home has a certain charm that I find very appealing - <insert personalised text here describing their home, e.g. "I think your garden is really vibrant and you've done a great job with it.">.
If you are interested in discussing this please feel free to call me on <phone number>, and of course I would be more than happy to come and meet you in person.
Kind regards,
Me
I think that sounds better. Especially being fond of the street like you'll consider other houses.
You loving the house won't have anything to do with weather they will sell or not.
Good luck.
You loving the house won't have anything to do with weather they will sell or not.
Good luck.
Along those lines sounds pretty good. Good luck with it too. It would be interesting to know if there are any responses after you do a letter drop. You've got me wondering what suburb it might be.
Thanks! And that's exactly why I wrote it like that...to say I was fond of the street / area so I wouldn't tip the balance of power to them should they be interested
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Oh no! In my sleep deprived state I put the wrong 'whether' and you've quoted me so I can't go back for a sneaky fix!
Oh no! In my sleep deprived state I put the wrong 'whether' and you've quoted me so I can't go back for a sneaky fix!
I just changed it. If you don't say anything I won't
Although this conversation trail kind of gives it away LOL
Lol, we'll just keep it between ourselves hey
If somebody was to do this to me, they'd need to have a good offer (i.e., at market or above) that is unconditional except maybe for b&p reports, and be willing to meet my needs for settlement.
Low-balling would not get far, and conditional offers would be amateurish.
So first step is to know what the market value is for the houses and to be prepared to pay it or above. Second is to get the money ready to go. You cannot play this game and be "subject to finance".
Low-balling would not get far, and conditional offers would be amateurish.
So first step is to know what the market value is for the houses and to be prepared to pay it or above. Second is to get the money ready to go. You cannot play this game and be "subject to finance".
Hi Jerrybee
We do this often for clients- I just letterbox dropped an entire complex for one particular investor. Letter is fine but I'd add something about being "agreeable on price between both parties, subject to an independent valuation" or similar so they don't dismiss you as a lowballer and take you seriously. Good luck!
I'm rather a newbie to this IP purchasing business, so forgive me if I've got things wrong: isn't the idea of a letter offering to buy a property, intended to buy the property at somewhat less than market value in order to achieve an instant profit after purchase?
Or is it merely to cut out the competition, and the likely jump in sale price, from other buyers if the property were put on the market by a RE agent for example?
Or is it merely to cut out the competition, and the likely jump in sale price, from other buyers if the property were put on the market by a RE agent for example?
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