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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:
Sockpile · 10/02/2022 15:39

@SauvignonBlanc23 what an odd suggestion!

AwkwardPaws27 · 10/02/2022 15:41

@SauvignonBlanc23

Daft question, but if they have taken out a mortgage, is there any way the mortgage lender could sell it to you if they say no? You'd have to know which bank or building society it was and I don't know how you'd find that out, but isn't there any way of going round them? I hope they say yes, obviously, but if they don't!
Yes, that is a daft question.
ShallWeTalkAboutBruno · 10/02/2022 15:41

@SauvignonBlanc23 would you then expect the mortgage company to evict the owners?!

Honestly this is one of the most batshit things I’ve read on here, and that’s saying something. How would you expect that to work in practice?

ToofFairy · 10/02/2022 15:42

Honestly, I love my house. In my opinion it's the best house in the area I love and in my price bracket. So to get me to move out of it you would have to give me enough money to get me into a higher price bracket. Realistically £150k +

loislovesstewie · 10/02/2022 15:44

I'm struggling with what the present owners would do if the mortgage company 'sold' the house.

Remytherat · 10/02/2022 15:44

@SauvignonBlanc23

Daft question, but if they have taken out a mortgage, is there any way the mortgage lender could sell it to you if they say no? You'd have to know which bank or building society it was and I don't know how you'd find that out, but isn't there any way of going round them? I hope they say yes, obviously, but if they don't!
Jesus. No wonder the housing market is mental and full of gazumpers if people can be this entitled over a house.
FancySusan · 10/02/2022 15:49

@SauvignonBlanc23

Daft question, but if they have taken out a mortgage, is there any way the mortgage lender could sell it to you if they say no? You'd have to know which bank or building society it was and I don't know how you'd find that out, but isn't there any way of going round them? I hope they say yes, obviously, but if they don't!
Shock

What! Go round to Barclays and say "you know 54 maple Drive? Well they don't have a sentimental attachment to that house so they don't deserve it or one of your fine mortgages. How about illegally evicting them as they are scum of the Earth, not having a sentimental attachment and then I will have the house instead'

And Barclays would say "yes madam we would not have given them a mortgage at all if we had known that they didn't have a sentimental attachment to that house! That should not be allowed And we will evict them immediately "

SauvignonBlanc23 · 10/02/2022 15:49

[quote ShallWeTalkAboutBruno]@SauvignonBlanc23 would you then expect the mortgage company to evict the owners?!

Honestly this is one of the most batshit things I’ve read on here, and that’s saying something. How would you expect that to work in practice?[/quote]
I don't really know, I was just trying to help. The OP asked if there was a way she could buy the house that's not on the market, I was just trying to come up with an idea. I don't even know if the mortgage company can sell the house? Can they?

DreamerSeven · 10/02/2022 15:50

@SauvignonBlanc23

Daft question, but if they have taken out a mortgage, is there any way the mortgage lender could sell it to you if they say no? You'd have to know which bank or building society it was and I don't know how you'd find that out, but isn't there any way of going round them? I hope they say yes, obviously, but if they don't!
I take it you have no clue about how mortgages work ! Are you imagining the OP turning up on their doorstep, waving a copy of the mortgage papers and telling them to get out?! Grin
loislovesstewie · 10/02/2022 15:50

SauvignonBlanc23, only if the lender repossesses the property as the payments aren't made.

SauvignonBlanc23 · 10/02/2022 15:51

I wasn't suggesting doing anything illegal @FancySusan. If it can't be done, then ok. Was just an idea.

TheNoonBell · 10/02/2022 15:51

We are kind of in the position of the OP's potential vendors. We outbid someone else for our new place last year and recently they asked us if we would move. They offered just over 10% on top of our buying price which we declined as it had already gone up that much anyway according to the EA plus we had spent another 10% on renovations.

Informed them it would have to be 50% over to make it worth our while as it is our forever home and they never came back. Very cheeky but can't fault them for trying.

OP I would ask since they are recently moved in but make sure the initial offer is very generous.

ShallWeTalkAboutBruno · 10/02/2022 15:51

I don't really know, I was just trying to help. The OP asked if there was a way she could buy the house that's not on the market, I was just trying to come up with an idea. I don't even know if the mortgage company can sell the house? Can they?

Without the permission of the person who lives in it? No of course they can’t. And for good reason. Do you have a mortgage? How would you feel if someone sold your home from underneath you?

Remytherat · 10/02/2022 15:53

@SauvignonBlanc23 no, they can't just sell a house. Only if you default on the mortgage for a long time can they start a repossession process, and that's the only reason they'll do it.

Even if they could just sell a house without the owner's permission, why would they? If the current owners are paying the mortgage, why would they risk taking on new owners.

FancySusan · 10/02/2022 15:54

@SauvignonBlanc23

I wasn't suggesting doing anything illegal *@FancySusan*. If it can't be done, then ok. Was just an idea.

It isn't legal for a mortgage company to evict people or sell a house when they are paying the mortgage. How could that possibly be legal?Confused

Londongent · 10/02/2022 15:57

No. A mortgage company do not own the deeds to the house and they cannot sell the house. The only way this can happen is if the owner defaults on their mortgage payments and the mortgage company reposses the house. Unfortunately you will now get a lot of responses to your original post. I know you were only trying to he helpful, bit you must be able to see how unfair your thinking was in your original post

harbourlane · 10/02/2022 16:02

Why do you think they have no emotional attachment to the house? It's been their home for the past 6 months.

And your emotional attachment can't be that strong, or you would have bought it yourself 6 months ago.

EmmaH2022 · 10/02/2022 16:03

Sauvignon are you an adult? I forget we have the odd teenager posting. But even then, can you imagine if people could job buy houses that way?

EmmaH2022 · 10/02/2022 16:04

Just not job!

Tryingtokeepgoing · 10/02/2022 16:07

House prices have gone up by around 10% in the last year, and that’s a country wide average. So if you’re talking about a £500k house in a vaguely desirable area I think £50k extra is far too low. As it could be a year or so since they first saw the property. If I was the new owner, and even vaguely interested in an offer, it’d need to be £150k on a £500k house, since it’d probably go on the open market for £575k. Then I need to find somewhere else…

Chakraleaf · 10/02/2022 16:07

Moving is stressful :(

blanketyblanked · 10/02/2022 16:08

Sentimentality should have no place in house buying

WheresYourSnickers · 10/02/2022 16:11

Is the 50k on top of all the fees, moving costs etc...? I wouldn't consider it unless all costs were covered plus a lot more, not sure 50k is enough!

lucythejuicy · 10/02/2022 16:24

50k depends on the price of the house - even 150k wouldn't be enough for me because of the upheaval etc. i don't understand why they didn't buy it 6 months ago

Doubleraspberry · 10/02/2022 16:31

@Tryingtokeepgoing

House prices have gone up by around 10% in the last year, and that’s a country wide average. So if you’re talking about a £500k house in a vaguely desirable area I think £50k extra is far too low. As it could be a year or so since they first saw the property. If I was the new owner, and even vaguely interested in an offer, it’d need to be £150k on a £500k house, since it’d probably go on the open market for £575k. Then I need to find somewhere else…
The 50k was on top of market value, not what they paid.

I'd say it's worth a shot. They can only say no. Something to consider though is your local market. Will they be able to find something else if they were prepared to sell? There's very little for sale in a lot of places. That may put them off taking advantage of your offer even if they would in theory be prepared to move again.