House not listed
My fiancee and I are looking to purchase a house which is convenient for us commuting between two upstate, NY cities, you can read this as the "boonies". We have been looking for almost two years and because there aren't that many houses in this area, and housing is depressed, there is basically no newly constructed homes. The houses that have come on the market are either really over priced, or literally falling apart... they'll cost more to fix than to build new.
We've started looking into building new. In researching a lot, which has a great location, but had a deed dispute on it, I found out from calling one of the neighbors that the house across the street is going to be coming up for sale this summer. It's a great property, with all the amenities that we want, and seems to be in decent shape. The current owners are elderly, and have already purchased a house out of state to live closer to relatives.
The neighbor that told us, sort of told us as a "secret", but then said we should find a way to stop over there and tell them we are interested in moving into the area and see if they offer to tell us they are looking at moving.
I'm kind of nervous about just knocking on someone's door, that's the first problem... the second is that I'm not sure that's a good strategy. Some of the properties we've looked at that are very overpriced are older individuals downsizing who still think their houses are worth what they were before the housing crash. Some of these properties have been on the market for years... nice places, but I don't want to purchase useless debt.
So I'm wondering if it's a good idea to approach them. If we let on that we like the house and property, or that we've had trouble finding places... they could jack the price on us, or prevent us from offering low when they do list it.
On the upside... if we dealt directly with them they could save the 6% realty commission fee... cash in thier pockets, and maybe entice them to ask a little less?
I'd like your thoughts on this... if anyone has seen a similar situation and how it worked out etc.
Thanks in advance,