Getting estate agent in to value air bnb property

[Boussa]

For various reasons my partner and I have had to move into an air bnb close to our home.

I absolutely adore the house we've moved to (via air bnb). It needs updating here and there but I still consider it my dream house.

I've looked up the house on one of those websites that share house values but tbh it seems very low. My partner thinks it's acceptable to get an acquaintance in to value the property. In my opinion, this is extremely inappropriate and invasive. Is partner BU? Would it be cheeky to get someone in to see if we should even approach the owner? I would be willing to pay above asking.

What would be the point? If they really wanted to sell, it would be for sale. Even if you could convince them, they would have to have it valued, your valuation would be of no use to them. Plus they'd probably find it weird and intrusive that you have valued their property.

I would be willing to pay above asking.

But they're not asking are they?

If you want to make them an offer on the house then make them an offer on the house - please don't EVER invite an Estate Agent into someone else's home to value it.

I don't see what's wrong with it. Get an approximate value, ask if they are interested in selling- what can you lose if they say no?

It's fine to get a valuation and to make an offer on a property. Be prepared for the fact that your offer is unlikely to be accepted unless significantly above the value of it, and that if you need a mortgage lenders are less likely to approve the application if you are paying over the odds.

You need to consider your language though, you're not offering above "asking price" because they're not asking for anything. Put it differently, for example say you love the property and wondered if they'd be willing to sell it to you for 25% above market value. (Or whatever percentage you'd be willing to pay - I think you'd need a big value like 25% or higher to tempt them though.)

You could have an "acquaintance" who happens to be an Estate Agent/Valuer pop round for a brew, sure.

You could claim that you find your partner saying it's okay to do so and that you find it "extremely inappropriate and invasive" . . . . yet here you are, seeking validation to do so and saying how much you'd pay for it, how much it feels like "your" dream home.

You should just message the owner when you leave, thank them for your stay and say how much you like THEIR property and that if they were ever to consider selling it could they please let you know on the contact details that you leave with them.

You are, like most of society today, a cheeky f**ker.

But they are not asking. Its a rental, for a reason.

Can someone explain exactly why it's inherently wrong?

If the estate agent is happy to value it, and there's no pressure put on the owner, why exactly is it wrong to ask someone if they'd be willing to sell their property at more than it's worth, especially if they're letting it out on AirBnB rather than living there.

I don't see anything wrong with approaching the owner saying you're looking to buy and if they ever consider selling you'd be interested.

It's no different to putting notes through doors when you're looking in an area.

If they don't want to sell - fine, if they do, fine.

Because they can’t legally sell it, or engage someone to sell it, so it’s a waste of the estate agent’s time and they’d be misleading them. Unless they said it’s not their house, in which case I doubt the estate agent would want to get involved!

This. It's not even for sale! What planet are you on?

If you want to buy it, approach the owner first, and ask if they would consider selling. If the answer is no - drop it.

Don't go dragging estate agents into it when it's not your house to value.

Asking the estate agent to value something that's not yours and not for sale is a total waste of the estate agents time. However, approaching the person and saying are you selling your property we would be very interested is a different story.

Because you don't own it. Would you get a mechanic to value your neighbours car, or an art expert to value your friends painting? One would hope not.

Can't imagine an estate agent being happy to do it anyway.

Hope OP is loaded too, because you can't get a mortgage on a house that you want to pay more than its worth.

Step 1 is to ask if the owner has any interest in selling. Step 2, if the owner says yes, is to facilitate the owner organising their own valuation.

You don't kick things off by getting a valuation done on someone else's house. It is 100% guaranteed to put their backs up and piss them off.

It's not your property, of course you can't ask an estate agent round to value it. It doesn't bloody belong to you, that's why.

Imagine if the owners found out, they could be majorly annoyed and turf you out. Why risk that?!!

Contact them and ask if they'd at all be willing to sell, and if so offer to arrange/pay for an evaluation. Outcome would be the same, why hide it?

Being sneaky rarely pays off.

A more sensible idea would be to go to the office of a local estate agent, have a chat and ask them what they reckon the rough price would be. They’ll be familiar with the street and maybe even the house itself.

Contact them and ask if they'd at all be willing to sell, and if so offer to arrange/pay for an evaluation.

Only a foolish owner would use a valuation that the buyer has organised. The buyer could get your EA mate to do it, and ask them to undervalue it. The owner will want to arrange their own evaluation if they have any sense at all.

We've had plans to sell for over a year but not put our property on the market mostly cos we have to declutter the kitchen to take photos and need to choose an agent.
If someone knew the property, viewed and offered what we'll accept it'll prompt us to find our new home.

So in essence offer if you wish.

The OP has already said that the EA is an acquaintance and will therefore be aware they don't own the property.
Contrary to MN opinion, not everyone renting out an Air BnB is doing so because they became an accidental landlord, chances are the owners took a hard-nosed decision to invest and will one day be looking to realise their investment gains.
If OP is lucky that time might be now.
It's quite a different situation to inviting someone round for dinner and them then returning to measure up for curtains, this is an investment property.

This is odd. I’d be furious if I was the owner that you’d had an estate agent round - a non vetted stranger in my house. I’d kick you out a straight away!!

It feels wrong and cheeky doesn’t it?
…and yet you could apply for planning permission to extend it or knock it down.

This is the least good reason to object to it.

People who rent out their houses should expect non-vetted people in their house. Unless renters shouldn't ever have visitors?

I am aware of the owner and she has a thriving property business with a portfolio of 40+ houses. We've really been struggling to find a house as nothing comes on the market despite us being in a decent position financially.

I do realise it's very unlikely the owner is even willing to sell.

But the first step is to ask the landlord whether they would be open to negotiating a sale. It's easy enough to do. If the landlord says yes - agree a valuation process and take it from there.