anyone ever walked up to house and asked the owner if they want to sell?: Off-topic discussion forum: Grassroots Motorsports Magazine

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July 22, 2011 8:27 p.m. paulmpetrun Reader

Sorry the subject line should say house not hosue, stupid fingers going faster than brain!

Background story; my wifes friend lives in the area we want to move to. The friends next door neighbor has the worst house in the neighborhood. By worst I mean its rundown and falling apart. Through the friend we have come to learn that the code enforcement officer has given the owners a few weeks to make many repairs or the house is going to be tagged uninhabitable. Not condemed, but not livable. The friend and the owner are not on speaking terms, nor is the owner on speaking terms with anyone else in the neighborhood.

I have tried to find anyone who might know the owner and her situation to act as an introducer, but no luck. It seams I am left with just cold calling and asking her if she would be interested in selling.

There is no mortgage on the property so if it gets "tagged uninhabitable", these are the kind of people that would just walk away and never bother to do anything with it ever. I need to act sort of quickly, but don't want to shoot myself in the foot either.

My background is, I am a certified residential appraiser, a licensed real estate agent, property rehabber, and landlord. I can do all of the work myself from start to finish, and know how to put together a deal. I just havn't ever had any luck when trying to buy a house in the this or a similar situation.

Any advice or strategies would be hugely appreciated.

Thanks Paul
July 22, 2011 8:37 p.m. wlkelley3 Dork

Don't know about that kind of situation but I'd say it's worth a try. All they can do is say no. Most likely the reason the house got that way is the owner can't afford the repairs/upkeep in the first place. Selling would give them cash to move on to someplace else in better shape. Although the no mortgage think might be reason to say no.

When the housing market was at it's peak, real estate agents used to call and knock on my mom's door several times a week in California. Mom lives in the house we grew up in, a small 4-bedroom by herself. Calls started a few months after dad died. They were trying to get her to selll and move to a condo so they could sell the house to a family. House is paid for and a condo would be almost what they would pay for the house. Mom still lives there.
July 22, 2011 8:49 p.m. mad_machine SuperDork

you have nothing to risk but a door slammed in your face.
July 22, 2011 8:59 p.m. alex SuperDork

The place next door to our house is literally falling down. Condemned by the city, stuck in limbo, and a general blight on the neighborhood. It's a giant, late-1800's 2.5 story brick home. Once grand, now nearly trash.

I'm considering offering them $10k cash.
July 22, 2011 10:08 p.m. pete240z SuperDork

No, but my wife wants to walk up to homes and ask if she can have a tour of the entire home. She is mainly interested in older areas like Hinsdale or La Grange, Illinois. We are trying to figure out how to make a "rich cribs" show work on HGTV.
July 22, 2011 10:15 p.m. MrJoshua SuperDork

Make sure to leave contact information and mention large sums of cash.
July 22, 2011 10:18 p.m. ClemSparks SuperDork

First...clear your mind of any preconception about the current owner. To think she/they might walk away is a stretch, I think.

Knock on the door and (by law you have to disclose you're a real estate professional) point blank let them know honestly that you are looking for an "in" to the neighborhood and are asking folks if they want to sell.

Then ask several other folks too.

Who knows what they'll say. I never had any luck asking folks who were actuallyin forclosure if they'd like to sell...but you never know.

My strategy is not to try to mask your motive at all. "I'm looking for a house and I wonder if yours is for sale" gets straight to the point. Don't pretend to be solving any sort of problem for them...they could (though, remember, clear your mind of prejudice) have MUCH bigger problems than the city on their back for some silly maintenance issues.

To answer the question of the post title: Yes, I have walked up to doors and asked people if they want to sell. I never bought a house that way, though. I almost did once...but the auction on the courthouse steps was coming up too quick to put anything together.

Clem
July 22, 2011 10:29 p.m. jamscal Dork

Send in a proxy to ask or scout first, and then you can adjust your approach based on that info.
July 23, 2011 7:07 a.m. ZOO SuperDork

I haven't done it -- but I've had trhe reverse happen. The person worked through an agent and left a letter at our house indicating that they were interested. We met -- and we asked the prospective buyer to submit a bid. He did -- and it was a healthy profit for us. Sold. No commission on our end -- although we did pay our agent a small fee to handle the details.

As long as the offer is fair I am sure it will be considered -- there's something to be said for avoiding all the hassle of listing a house.
July 23, 2011 8:26 p.m. mad_machine SuperDork

alex wrote:

The place next door to our house is literally falling down. Condemned by the city, stuck in limbo, and a general blight on the neighborhood. It's a giant, late-1800's 2.5 story brick home. Once grand, now nearly trash.

I'm considering offering them $10k cash.

Not sure about where you are.. but generally around here the house is the part that keeps the property values down... but then, most people buy a house here and immediatly tear it down to build something bigger
July 24, 2011 8:46 a.m. 914Driver SuperDork

Does your wife's friend know the people next door? It's easier to fashion a pitch if you know that the owner is a 95 year old woman with no relatives, or an angry crack head with weapons.

Local tax ledgers will identify the owner if your wife's friend can't help.

I've never done it, but have been approached to sell my house. I really don't want to spend my "Golden Years" maintaining an 1894 Victorian museum.

Dan