Buying privately?

[buyingprivately]

We sold our house a few weeks back but nothing we want to buy has come on the market yet. We know which roads would be our 'dream' roads and so we wrote letters and dropped them through letterboxes. One house has got back to us and I'm cautiously very excited from what I know so far!

The owners have agreed to let us come and view soon. We don't want to mess them around and are v serious about buying. I have no doubt that if the house went onto Rightmove there would be a bidding war. Does anyone have any advice on how we go about offering a good and fair price? There aren't really any recent comparables on the road. We can afford to offer the top end of the zoopla estimate, but knowing the market quite well I'm not sure 100% that the house is worth that- and so my worry is that if we offer too much that the mortgage lender would then undervalue it.

Does anyone have any advice on how best to go about pricing a property privately? I would be happy to suggest that the owner gets a few estate agents round to value it and go with the highest valuation, but I'm worried that if that happens then the estate agents will convince the owners to put the house on the market- it's such a popular road and the estate agents of course know that!

Any advice welcome.

I have no idea, but watching with interest!

I bought privately from my landlord. She got a couple of estate agents to value it. And we met in the middle of the valuations. It was valued at £135-140 and I paid £137k

I would suggest they get 3 local EAs to value it and go for the middle price.

My friend did this. I think she paid for an independent valuation of the house

I've sold privately. I had 3 valuations and agreed to sell mid way. Saved me estate agents fees and a shed load of hassle, even though would probably have got more on the open market.

Thank you. I think estate agent valuations are the way forward, but am so worried they'll be persuaded to put the house on the market and then we'll have to compete with swathes of chain free/cash rich people!

Go and have a look and an initial chat. See where abouts they're up to. They may already have had valuations or have an idea of how much they're after. Saving agents fees is always desirable, as are reliable buyers. Ultimately if a lender undervalues the price has to come down or they have to look at other buyers, probably cash. Difficult when there are
no direct comparables but get an idea of what's happening in the local market. Good luck!

Daft question but have the owners said they're looking to sell privately, or just that they're looking to sell. It might be that they were already considering going on the market before recieving your letter.

Having 3 agents round to value seems like a sensible place to start. I understand the worry that they may decide to go with an estate agent, but unfortunately there's nothing you can do if this is the route they decide to take.

Good luck, and I hope it all works out for you.