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Property/DIY

Neighbour wants to buy my house

30 replies

Heatherjayne1972 · 17/02/2016 16:57

So the house is up for sale with a local EA. there's been lots of interest but no offers yet (been on the market almost a fortnight). Today my neighbour from two doors up knocked and asked if I be willing to sell to him for a cash sum .
What would you do ? What are the pitfalls? Should I just say no and stick with estate agent Or does it sound ok. I really have no clue.
Thoughts ...

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Bitofeverything · 18/02/2016 11:28

I had this situation with a person who owned other half of my building (I owned one flat and he owned other). He had installed awful tenants in his flat. Sold it to him - with no payment to estate agent after checking contract very carefully. Was actually relieved to sell it to him because anyone else would have had to put up with the neighbours from hell and was seriously worried about that... He dropped price just before exchange and made the whole thing a nightmare - but still cost less than estate agent fees...

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Miri2007 · 17/02/2016 19:44

Do check with the EA their rules on private sales. A previous house of mine had been on the market but someone I knew was interested and offered directly. As I knew them and they were not introduced through the EA they (the EA) were happy there was no conflict of interest and the sale went through privately. Might be worth asking their policy on private sale before you send the neighbour to them....

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Flugelpip · 17/02/2016 18:47

I would refer him to the EA for your own protection. Private sales can be fraught with difficulties and if you're having a tough time anyway you don't need any more hassle. EAs can be worth a lot just for keeping people from pestering you directly. Also, they will tell him where to go if he's trying to offer very little and you can blame them instead of falling out with him and possibly having to live near him for a bit longer. Your rock-bottom price is none of his business.

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ElsieMc · 17/02/2016 18:45

We sold to our neighbour who was renting. He knocked on the door one Sunday and tried to view there and then but I wouldn't let him in. I told him to view through the estate agent because I didnt want someone keep on knocking on the door. They viewed and offered the asking price and sale went through just fine.

I think this guy is just trying it on. Who knocks on someone's door interested in their rock bottom price. Just refer him to the agent because how do you know he is in a position to buy the house and has a proceedable offer?

I would just ignore him and if he comes up with a decent offer, all well and good but it doesn't sound promising. What an arse.

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Uphillanddowndale12 · 17/02/2016 18:41

I bought a house by approaching a neighbour- I offered her the asking price she wanted to move back to Holland, and we drew up a contract with my solicitor which we both signed and then my solicitor did the conveyancing. It was all fine.
Some estate agents do a no sale, no fee clause. You could tell the ea you're taking it off the market. It's up to you, don't let the ea bully you into doing things how they want it's your house and your life and future

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Sgtmajormummy · 17/02/2016 18:26

You can be under an obligation to pay the Estate Agent their commission for anything up to 6 months so I'd send the neighbour to them and do everything according to the rules. If he wants the house he'll pay for it, but he sounds verrrrry dodgy to me.

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RaphaellaTheSpanishWaterDog · 17/02/2016 18:18

I agree with PP that a) it will need to go through your EA and b) I'd be very wary of rock bottom offers from neighbours. We previously had a neighbour - not next door but along the road - express keen interest in a house we were thinking if selling. He wanted to be the first to view before it went on the market. We obliged, giving him the guided tour and he 'went away to discuss with' his wife - we never heard from him again. Think he was just a nosey bastard

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Writtenbyme · 17/02/2016 18:06

Neighbour thinks you are a distressed seller.

Don't settle for rock bottom. It has only been on the market two weeks.

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amarmai · 17/02/2016 18:03

had same sit and every little thing he said he had to fix was used to knock down the 'rock bottom' price. Don't do it.

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DSClarke · 17/02/2016 17:46

If you have just split and this neighbour is sniffing around and offering you rock bottom he is trying to take advantage of you, and my bet is that the transaction would turn out to be a nightmare. Do not engage with him other than talking him to contact the EA

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Maryz · 17/02/2016 17:24

This reply has been deleted

Message withdrawn at poster's request.

ThroughThickAndThin01 · 17/02/2016 17:18

And if they are due their fees, just make sure that you include it in the price you agree to your neighbour so you aren't out of pocket over it.

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expatinscotland · 17/02/2016 17:17

A quick sale would be nice, but don't take a 'rock bottom price' just now. This neighbour is chancing his arm.

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Heatherjayne1972 · 17/02/2016 17:15

Thanks everyone. I'm not looking to dodge EA fees. Just like the idea of a quick sale as hubby and I have parted company and I'd like to move on. I Need to check what EA contract actually says don't I

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aginghippy · 17/02/2016 17:14

Look at the terms of the contract you signed with the ea. As pp say, you would probably have to pay their fee if you sold to neighbour.

No reason to sell for 'rock bottom' if it has only been on the market for 2 weeks.

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WordGetsAround · 17/02/2016 17:07

Sorry! I keep cross posting with others! Hold out for a better offer this early in the game

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ThroughThickAndThin01 · 17/02/2016 17:07

Ignore Peggy, that's not good advice. If the EA is due their fee, they'll come after you.

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expatinscotland · 17/02/2016 17:07

'He was interested in what my rock bottom price would be'

Sounds a right charmer. Tell him you're looking for the asking price and to contact the EA if he'd like to make an offer. He sounds like he'd be a nightmare buyer.

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WordGetsAround · 17/02/2016 17:06

Check the small print. If you take your house off from the agent but then sell within a stated period of time you will still be liable for the fees

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ThroughThickAndThin01 · 17/02/2016 17:06

You'll still be due to pay the estate agent if you sell to neighbour.

If the figures work though, go for it.

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Moving15 · 17/02/2016 17:06

Your contract with the EA probably sayss you must direct any interested parties to them. Which is what I think you should do in this situation. You can't bypass the EA fee just because he knocked on your door.

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WordGetsAround · 17/02/2016 17:05

Hold out then. Don't sell too soon for rock bottom

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peggyundercrackers · 17/02/2016 17:04

ask him what his offer is - if it isn't what you want tell him. if you don't want to go through EA you don't have to - just tell them you have taken it off the market and you have changed your mind. you don't need an EA to sell your house - its just that people are used to using them.

no need to play games...

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WordGetsAround · 17/02/2016 17:04

If he offers asking price, then definitely. He'll need to go through your Agent though and as PP said you'll need to pay the agreed fees.

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Heatherjayne1972 · 17/02/2016 17:04

It's a semi detached house. He was interested in what my rock bottom price would be

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