Tips on buying a house that is not for Sale
- Posted By Shiral Alexander
Spotting your dream home does not always happen smoothly. What if the dream home you are eyeing isn't for sale?
Before you get in touch to inquire about the possibility of buying it, here are some important considerations for purchasing a house that is not yet on the market
1) Research the property - First and foremost, it's essential to do your research on the property. Research current home values in the neighbourhood and compare those with your budget.
Knowing the average prices for comparable houses will give you an idea of what to expect when negotiating a purchase price.
2) Find out who owns the house - If you want to get in touch with the owner to make an offer, you'll need to determine who owns the house and how long it has been owned by the current owner
3) Plan and identify how much you are willing to offer - Make sure you have a good idea of how much you are willing to offer for the property. Knowing your budget and what you're comfortable spending will be; This is why researching the property is important, you may offer a little over the market price but not pay a ridiculous amount
4) Get in touch with the homeowner - Once you've done your research, and identified the owner of the house, it's time to get in touch and make an offer. The old yet effective way of getting in touch with a property owner is by posting a letter in their letterbox.
Let them know about your interest in buying their property and make sure to include your name and address to build trust and show authenticity.
5) Find their motivation - After successfully capturing the owner's attention and establishing a sense of trust, it may be beneficial to inquire about the reasons behind their motivation to sell the property. By getting to know both the owner and the property better, it may be possible to create a deal that satisfies the owner's needs. Selling a property is not always solely driven by monetary gain, as the owner may have alternative motives for selling or may be open to new possibilities. Factors such as timing or specific circumstances could also play a role in the decision to sell.
If you are serious and have a good plan, the owner will be convinced and you may just purchase that dream house!