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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:
Hoppinggreen · 10/02/2022 16:36

@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!
The only words here that make sense are the first 2
Weekendssuck · 10/02/2022 16:43

@SauvignonBlanc23 eh? You seriously think this is a thing? If so, surely we can all just buy any house we want by asking the bank nicely to turf out the current occupiers/owners? How bizarre.

Daenerys77 · 10/02/2022 16:47

How on earth do you know that the current owners are not emotionally attached to their house?

godmum56 · 10/02/2022 16:49

ask them....write an incredibly polite letter setting out your offer and put it in the letterbox....then wait.

WeBuiltThisBuffetOnSausageRoll · 10/02/2022 16:53

Contrary to what people may think, the bank don't own the house - the owners do. There may be a loan secured on the house, but the mortgage company can only order the house to be sold to recover their money if the owners don't keep to their side of the loan agreement.

I believe (although I may be wrong), that even if the bank did order the sale of the house owing to a big default on the mortgage agreement, they would still need to offer it on the open market and couldn't just choose their preferred buyer without doing this.

In fact, I think it would still be the owner in charge of the sale and able to choose their preferred buyer (as long as their offer was serious and sufficient to settle the loan) - it just wouldn't be an option for them not to put it up for sale.

If mortgage lenders could sell your house to anybody else on a whim, what would be the benefit in buying with a mortgage over renting? At least, when renting, you only have to commit to paying for 6/12 months and aren't responsible for the repairs yourself.

I'm yet another who is baffled as to why OP didn't strike with an unbeatably high offer when the house was on the market, though.

Shopgirl1 · 10/02/2022 17:18

@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!
This makes no sense and is not legally possible.
NoNameNoGane · 10/02/2022 17:22

@FancySusan

Thank you for your response to @SauvignonBlanc23 Almost pissed myself laughing 😂

Onlywomengivebirth · 10/02/2022 17:25

Someone did this to mum once. Had always wanted the house, ever since they were a little girl etc etc. offered a fortune. Mum sold it to her. Worth a try!

WheresYourSnickers · 10/02/2022 17:26

I'd love OP to answer the question Why didn't you buy it 6 months ago?
Also Sauvignon's suggestion is so ridiculous, it's genuinely made me laugh out loud! The fact that anyone thinks this could be in any way possible (save for not paying your mortgage for YEARS!!!!) is kinda scary!

CallMeDaphne · 10/02/2022 17:42

We had this exact experience. A couple got in contact, explained that they would love to buy our house (for sentimental reasons - his Uncle had built the house in the 1960s and he had played in the garden as a kid).

We met them, they made a very sensible offer for the house and the whole thing was amicably agreed, and no Agency fees had to be paid.

There is no harm at all in making contact. You have nothing to lose.

memoirsofa · 10/02/2022 17:45

@SauvignonBlanc23 😂😂😭

Weekendssuck · 10/02/2022 17:48

@CallMeDaphne had you only been in the house for 6 months at the time? For some reason that’s the kicker here for me.

2bazookas · 10/02/2022 17:53

[quote Weekendssuck]@SauvignonBlanc23 eh? You seriously think this is a thing? If so, surely we can all just buy any house we want by asking the bank nicely to turf out the current occupiers/owners? How bizarre.[/quote]
SB 23 has imbibed too much sauvignon blanc, perhaps :-)

ShallWeTalkAboutBruno · 10/02/2022 17:53

@CallMeDaphne

We had this exact experience. A couple got in contact, explained that they would love to buy our house (for sentimental reasons - his Uncle had built the house in the 1960s and he had played in the garden as a kid).

We met them, they made a very sensible offer for the house and the whole thing was amicably agreed, and no Agency fees had to be paid.

There is no harm at all in making contact. You have nothing to lose.

Had you only lived there 6 months? That’s the issue here. Moving house is a stressful, expensive process. And I have done it far more than most people, so am a pro. But imagine going through the whole process… getting your house ready for sale, accommodating viewings, accepting an offer, finding a house you love enough to want to buy, going through the whole legal process, packing up your house, moving your stuff, unpacking the other end, getting settled… how many people would be willing to go through all that 6 months later, just because someone else fancies buying your house?
Escapetothecatshome · 10/02/2022 17:56

I've only been in my house just under a year, 50 grand would not have me packing up and shipping out.
Their might be family ties to the house and sentimental value but these things are often viewed in rose tinted and the grass was greener back then etc etc. I often think of my childhood home but I need to be realistic, also I think you need to take into consideration if they've done work inside, decorated etc - this takes a huge amount of mental and physical energy - I certainly wouldn't want to have to start again, packing, unpacking,decorating,builders...
I've only been in my house a few months - I love every brick/stone in the place - even if I won the lottery I wouldn't sell it.
I would tread very very carefully and be prepared to be told to its not going to happen.

stuntbubbles · 10/02/2022 18:05

Even thinking about this stresses me out!

Covering costs, fine. Would need to cover not just stamp and solicitors but movers and packers, surveys on new places too.

£50k… it’s not enough when houses have increased in price since even six months ago. You’d need to offer enough to allow them to find an equivalent house in terms of footprint, character, location, decor, garden, etc. Plus the sheer STRESS of all the postal redirection, change of address in 800 places, all that jazz. £100-150k at least.

TabithaHazel · 10/02/2022 18:14

We moved about 8 months ago and if someone offered me even £100k above what we paid I would still say no. We've made it our family home in that time and I would absolutely would not go through the stress of finding somewhere else then moving my family for less than £500k especially after just having done it a few months ago. £50k is actually a pathetic amount to expect someone to uproot their life for (unless the house cost under £200k that is). Please let us know how you get on :)

Branleuse · 10/02/2022 18:17

How come you didnt buy it when it was on the market

WeBuiltThisBuffetOnSausageRoll · 10/02/2022 18:30

I think it's great if you do become sentimentally attached to a house (easier if it's your own house!), but it's by no means the only criterion by which somebody would choose a particular property.

You may have bought the most soulless new-build house on a development with 1,000 identical ones, but if it's in the perfect location, perfect layout, ideal amenities and facilities etc., it's absolutely no less valid a reason for why you should desperately wish to stay there.

I presume most people don't just blindly stick a pin in the map over the county/city/town before deciding to buy a particular house - it's not like the current owner is just there as a 'placeholder' until a person who really wants it comes along.

I suppose there may well be another of the identical 999 houses already on the market, but presumably, that would also fit the bill of the person who is desperate to buy it.

Garysmum · 10/02/2022 18:30

If it were me my conditions would be:

Cover onward stamp duty - on a 500k property 15k
Cover all my moving costs - could be expensive
Pay for admin time re: changing addresses etc
At 500k - I'd want 75k+ plus to move

PLUS - I'd ask you to find me a suitable replacement, Similar size and location, correct catchment area etc.

If you went to that trouble it would be a yes

flashbac · 10/02/2022 18:36

I'd take the offer if offered over asking price.

Blinkingbatshit · 10/02/2022 18:42

I think the question about how much 50k is as a percentage of the purchase price is very pertinent - if I’d bought somewhere for 200k I might consider it…. I wouldn’t even entertain it if I’d spent 450k plus….

Ishouldreallybeonholiday · 10/02/2022 18:42

If I'd brought a home and 6 months later someone approached me saying they want to buy it because they are emotionally attached to it I'd be quite upset. The reason being that at that point it would be my new home, maybe my forever home that I spent years working toward. So I think you need to wobble your head on this one.

Escapetothecatshome · 10/02/2022 18:43

FancySusan
As Meatloaf once said
" You took the words right out of my mouth"
X

Ishouldreallybeonholiday · 10/02/2022 18:43

50k and the other things you offer wouldn't be enough for me.