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Original poster

Buying a house that is not on the market

160 replies

NaomiBlues · 10/02/2022 13:32

My husband and I are interested in buying a property that is not currently on the market. It has a lot of sentimental value (family reasons) and we'd really like to approach the current occupiers (who we know a little but not well) with an offer. They have not lived in the property for a long time (less than six months) and do not have any emotional attachment to that particular house as we do. Does anyone have any experience of doing anything like this? Any advice that you'd give in our situation?

OP posts:
Mumdiva99 · 10/02/2022 13:36

If they have not been there long then I would imagine it would cost you a fair bit to get them to move (if they can be bought that is.....). They would need to recoup all the costs of moving, be recompensed for the stress of the process, and pocket a fair wack for themselves otherwise why would they agree? If you need a mortgage to buy the property you probably can't afford it. Really you'd be better off finding somewhere else.....otherwise why didn't you buy it when it was for sale 6 mo the ago?

Mumdiva99 · 10/02/2022 13:38

Oh....and if you do approach them please don't tell them they have no emotional attachment to the place. It's their home and it sounds quite patronising and entitled - even if you don't mean it that way.

AwkwardPaws27 · 10/02/2022 13:41

If they've only been there 6 months, the stress of buying and selling is likely fresh in their minds. I've been here over 4 years and the idea of moving again still stresses me out Grin

I'd want a good chunk over market value to make it worth the effort!

sarahc336 · 10/02/2022 13:46

Why do you think they would want to move op? Bit of a strange assumption to make surely? By all means you can ask but it is their home so be prepared that they won't want to see it to you even if you want it. 😁

FelicityBob · 10/02/2022 13:47

They may not have even finished unpacking yet… worth a shot

Weekendssuck · 10/02/2022 13:48

You’re having a laugh OP? Surely?

peboh · 10/02/2022 13:49

They've only just moved there, I doubt they're looking to sell up after 6 months.
It may have sentimental value to them as a couple. It may be the first home they've owned together, a fresh start or whatever. You can't assume it means nothing to them just because they've been there a short time. I think approaching them when it's not on the market is a bit daft honestly.
Why didn't you look to purchase the house when it was for sale?

IpanemaPeaHen · 10/02/2022 13:51

Any reason why you didn’t put in an offer when it was on the market?

ShallWeTalkAboutBruno · 10/02/2022 13:51

If they’ve lived there for less than 6 months I cannot imagine they’d be looking to move again! It doesn’t matter if they have an emotional attachment or not, they obviously liked the house enough to buy it. Why do you think they’d want to go to all that cost and upheaval again?

ChicCroissant · 10/02/2022 13:51

You are very dismissive of the owners!

Is it your old house?

Shutupandcry · 10/02/2022 13:52

You can knock and ask your politely but short of offering £100k over market value and facilitating a smooth transition to a better house it would be a definite no from most people!

BasementIdeas · 10/02/2022 13:53

I think it’s worth a shot if it means that much to you but you will need to offer at least 25% more than they paid 6 months ago (probably nearer to 50%)

ShallWeTalkAboutBruno · 10/02/2022 13:54

I’d expect my stamp duty for my onward purchase, my legal fees and my moving costs paid too, at the very least.

whoruntheworldgirls · 10/02/2022 13:54

I can't see them going for it but i don't see the harm in putting a note through the door explaining the situation and that if they were to sell to please let you know

Original poster
NaomiBlues · 10/02/2022 13:56

We were thinking of offering £50k over the market value, covering the stamp duty for their onward purchase, and their legal/conveyancing fees.

OP posts:
Original poster
NaomiBlues · 10/02/2022 13:57

I didn't mean to be dismissive of the current owners, by the way, apologies if it came across like that. I didn't intend it to.

OP posts:
Baxdream · 10/02/2022 13:58

Why didn't you buy it 6 months ago?

If you did this to me, I've been in my house a year, I would be fuming that you would suggest I'm not emotionally attached to my home.
You'd have to pay me above market rate to have any chance of success

Weekendssuck · 10/02/2022 14:00

What’s £50k as a %?

Mumdiva99 · 10/02/2022 14:02

Obviously it depends on the value of the house but 50k wouldn't be enough for me. We bought in the area we like, a house we like, the kids have settled etc etc 50k isn't enough for the upheaval......I would be thinking - you had your chance to buy it before.

ButterMeTimbers · 10/02/2022 14:05

A softer approach might be to simply write to them and explain how much you love their house, hope they have many happy years there but if, in the future, they are ever thinking of seeling you'd be grateful if they'd let you know as you're interested in buying and would be willing to make a generous offer to help secure the property.

Then the ball is in their court IF they want to sell (or when) but you haven't actually committed to anything at that point.

JustJam4Tea · 10/02/2022 14:05

If someone had offered us a fair amount of money over purchase 6 months after moving in - I think we'd have bitten their hand off. We'd just discovered all the heating/plumbing horrors. It's worth a try. And I think it is worth mentioning the emotional bit - otherwise they may just think you are buying because you know a tube station is about to be built close by or you are a developer.

Sittingonabench · 10/02/2022 14:12

In this situation with an offer that covered expenses and a decent incentive I would be open to considering it. But it would be dependent on my finding another suitable house to purchase and that all going through successfully and I wouldn’t want to be pressured as to time etc. Have you thought about what your timescales are e.g 6 months. Whilst open to the discussion I would need to know these details and assurances first.

Remytherat · 10/02/2022 14:15

It's worth a try just in case they're having buyers remorse, you never know. But I'd be so careful how you approach it. It could be a home that in 20 years time they are very emotionally attached to. I know I'm hoping that for the house I'm buying now so if someone tried to buy it off me in 6 months time I'd be a bit Hmm

MrsWinters · 10/02/2022 14:21

My place wasn’t on the market- it’s definitely doable. I would contact them with your offer and be aware it might take a while as they look for somewhere else.
You’ll need to pay above market rate-as you’ve said to cover stamp duty, but also for upheaval and inconvenience. Financially it might not be worth it, but if you love it make the offer you have both to lose

friendlycat · 10/02/2022 14:26

It’s worth a try I suppose but does depend how much £50k over asking price is as percentage of house and onward stamp duty cost etc.

For instance if house is £250k then it’s a good offer. If house is £800k it’s a different ballgame.

I would be wary of you actually going through with this and not trying to pull a fast one at exchange leaving me with legal costs etc. it begs the question why you didn’t do this when they were buying the house?