Hey All,
Was curious what innovative ideas people may have for buying a house not for sale?
Some background:
My mum is about to sell her home, a corner block on 520m.
Her neighbor is also on about 520m but after his house there is a number of townhouses and also a large fairly modern unit complex (built about 15 years ago). So basically the entire length until a primary school is developed area with the exception of mums and the neigbors older homes.
As single sites the most you could develop them is maybe 2 on each. If however you were to own both sites then given the corner block location and the surrounding developments I would say you may get 6.
The value I estimate around 350k for mums and about 330 for neighbor. Together however with plans and permits for 6 you would be pushing 1 million based on completed townhouse values.
So getting back to the question does anyone have any thoughts on how I can approach the neigbor? I am thinking about a simple letter saying I would be willing to negotiate a price above market value, maybe even give a figure of something like 20%? If this is the path I go then the first letter is critical and I don't want to make a normal offer.
Was curious what innovative ideas people may have for buying a house not for sale?
Some background:
My mum is about to sell her home, a corner block on 520m.
Her neighbor is also on about 520m but after his house there is a number of townhouses and also a large fairly modern unit complex (built about 15 years ago). So basically the entire length until a primary school is developed area with the exception of mums and the neigbors older homes.
As single sites the most you could develop them is maybe 2 on each. If however you were to own both sites then given the corner block location and the surrounding developments I would say you may get 6.
The value I estimate around 350k for mums and about 330 for neighbor. Together however with plans and permits for 6 you would be pushing 1 million based on completed townhouse values.
So getting back to the question does anyone have any thoughts on how I can approach the neigbor? I am thinking about a simple letter saying I would be willing to negotiate a price above market value, maybe even give a figure of something like 20%? If this is the path I go then the first letter is critical and I don't want to make a normal offer.
