Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Sometimes the owner actually has been toying with the idea of selling anyway. So it never hurts to ask. I would offer a small premium over the appraised value of maybe 5 to 10% as an incentive. That could take care of closing costs and costs to move for the current owner.
Given that everything would be done via proper legal means, $1.5M over market. Of course my house was a new build, so unless you were reincarnated from a rabbit ....
Interesting, some people just want market value, some a little more, and some of course a lot more. What is really interesting is those who not only won't take ANY amount, but are also belligerent about someone offering them a lot of money. That is really strange.
Last edited by blktoptrvl; 03-25-2017 at 08:59 AM..
I've had it happen. Some strange man knocking on my door to offer to buy, not the house I was living in, but one of my rental houses. It was really creepy and more than a bit scary.
He immediately started running the house down, which had to be to get a lower price and he kept insisting that my tenants had snuck out and left the place trashed. Then he was telling me that he'd walked all around the house looking in the windows, so that he knew it was empty. I knew for an absolute fact that the house was in fine shape and my tenant was happily living there. His visit left me worried about him for days.
Letters offering to buy. I get at least 2 a week of those. Plus another couple from agents telling me they have a buyer if I will list with them. I just chuck those into the trash because I know they are bulk mail from the "we buy houses" investors and I won't sell for 50 cents on the dollar. I don't know how you would get a letter out to a home owner that made them feel like you were an honest buyer.
If I knocked on your door out of the blue, and told you that you are living in my childhood home and I want to buy it. I'll give you 6 months to find another place to live.
How much (percentage over) the fair market price would you demand? 10%, 50%?
I'd take fair market value but I would find your story totally unbelievable. We bought the home as a new construction in 1998.
I've had it happen. Some strange man knocking on my door to offer to buy,
not the house I was living in, but one of my rental houses.
It's how I got out of the rental business.
It was my first "accidental LL" property.
I had too much cash in it but could never get enough from selling to justify forsaking the rents.
(It was a great rental location)
Then in Sept '06 I got a call from the tenant that a man had knocked on the door and made her promise
that she would give me the message. Long story short within six weeks we were settled and done.
I was offered almost 80% more than I ever thought I could get.
Based on this insanity (top of that crazy crazy market then) I then proceeded to unload
my interest in every other property I had and was out by March 2007.
With a letter, you read it, get a laugh, but then you actually take a few minutes to consider. Maybe you've been thinking that "someday" you'd like a different house but the thought of marketing your home gives you hives. Now you've got a letter to refer back to. Or set it aside for six months while the idea of moving percolates in your mind. This happened to my sister. She did sell her house to someone who sent her a letter, about nine months after she received it.
Someone sent us a letter wanting to buy our house about 6 months after we bought it. I filed it immediately in the trash. The house had been on the market for over 6 months when we made an offer. They missed their chance.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
