Buy a House Not for Sale? (Raleigh: loan, to buy, construction)
Raleigh, Durham, Chapel Hill, CaryThe Triangle Area
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We routinely get these mailings too. Even got one offer from a realtor before we hit the market. I don't see the issue...now if you're talking about living in there prior to closing that is also negotiable. When we sold our house we did a rent back for 10 days between closing for free but with a security deposit to our buyer.
Sounds like a big headache. If the market is hot people you contact directly might have unreasonable expectations about the value of their home. Better to work with sellers who have a realtor already IMO and are committed to selling and moving on.
Not unheard of at all. My dad did something similar with a vacation cabin; he wanted it on a specific stretch of beach and there probably weren't more than a dozen houses on that beach. He sent the letters. He got some interest, too, from people that were willing to sell. He ended up going under contract on a house that came onto the market.
LOL, I am so sorry! Here's what I meant: if I were to make an offer on a house not for sale, would it work? The house already has owners, who are not renting (as far as I know). Say I were to make an offer on their house and they are willing to sell the home to us...is that reasonable?
LOL, I am so sorry! Here's what I meant: if I were to make an offer on a house not for sale, would it work? The house already has owners, who are not renting (as far as I know). Say I were to make an offer on their house and they are willing to sell the home to us...is that reasonable?
Not very likely. Unless you're willing to overpay (probably considerably) to get them to move when they had no desire to move. Or if you just happen to hit them when they were thinking of moving - karma, good luck, coincidence, whatever.
It happens, but not often.
And how will you know what the market value of the house is?
LOL, I am so sorry! Here's what I meant: if I were to make an offer on a house not for sale, would it work? The house already has owners, who are not renting (as far as I know). Say I were to make an offer on their house and they are willing to sell the home to us...is that reasonable?
I think we are trying to tell you that it is not unreasonable. That said, we can't tell you if it will, or will not, work. Both parties must be willing and able to make the transaction work.
I think we are trying to tell you that it is not unreasonable. That said, we can't tell you if it will, or will not, work. Both parties must be willing and able to make the transaction work.
This.
You would need to go and research the market value of the home, then offer that, plus maybe a wee bit over to encourage a positive response, even if that response is a polite "no, we are not interested in selling."
Just out of curiosity, what part of the Triangle is this home located in? Knowing where you are looking might give us some idea of how likely a random person living there might be to want to sell.
If there's a specific subdivision, that's even more helpful.
Example: You are looking to buy a home in a neighborhood where houses sell very quickly, and the owners just bought the house last year... you are probably going to be unsuccessful unless you come to them with a VERY good offer. Way over market.
Example: You are looking to buy a home in a neighborhood where homes are slow to sell, there are a good many on the market that you don't really want to buy in that neighborhood, and the population who live there are aging out (kids out of the nest, lots of owners downsizing or relocating due to retirement) and the owners have had the house for the past 10 or 15 years? You might have better luck because you are more likely to be approaching a couple that are thinking of maybe selling sometime soon.
Make sense?
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I think we are trying to tell you that it is not unreasonable. That said, we can't tell you if it will, or will not, work. Both parties must be willing and able to make the transaction work.
I actually read about a case recently where this happened and the sellers jumped to get the overpayment being offered. Then halfway thru the transaction and packing, they realized they couldn't find another house they liked where they wanted to live in their price range. It amazed me that a family would do something like this without thinking it all the through to the end - you know, actually moving and finding another place to live. These people weren't going to screw over the buyers but I would bet most people would make it very difficult to close on the house till they were good and ready to move.
As someone said, if you're very lucky you'll catch someone actually thinking of putting the house on the market, but then you run the risk of them leaving a laundry list of unfinished business they might otherwise take care of it.
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