How to buy a neighbours house?

[Ed Barton]

how do you buy a neighbours house?

you owned one place. how do you buy the place next door?

 

[Rixter]

Knock on the door and inquire into if they are wanting to sell. If so, then start negotiating. Once settled on price and conditions put it in the hands of your conveyancing solicitors to draw up contract, signing and taking it through to settlement.

 

[Hysteria]

I just have approached my neighbour about buying there house.
I simply knocked on there door.
Now I have them thinking about selling and they have rang a few times in regards to price and settlement.

I told them I am happy to give them a 12 month settlement as they are an elderly couple and they wanted time to find a smaller house/unit that was low maintenance.

Now i will fill there letter box full of real estate brochures that suit there criteria.

 

[pennyk]

our neighbours bought our previous PPOR. they did just that.. came and knocked on the door.

 

[Tin Tin]

i knocked on the door 3 years ago, the old lady smiled and humored me but politely said no after a nice, pleasant chit chat.

3 years later she is sick and the agent tracked me down, we have gone to contract.

 

[Ed Barton]

thanks for the replies.

I was thinking more about what strategy/tactics to use. i know if the neighbour knocked on my door enquiring about selling I'd be think of a price and doubling it.

i ask for two reasons. 1. i want a tennis court at my ppor and would need the adjoining property to do it. 2. one of my IPs is develop-able/split-able but doesn't have the street frontage - it's long and thin.

ta

 

[pennyk]

We basically looked at what the market pricing was, and adjusted for lack of agents fees. (we split the saving of the agents fees).
Actually, we also bought our PPOR after knocking on the door.... and we used the same approach to work out the price.
I guess in both cases there was a strong desire to sell. We were on a main road, and selling to the neighbour was our best chance of getting a good price. and the previous owner of our PPOR had the house on the market for over 6 months...... so it probably depends whether your neighbours have any motivation to sell.