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jperiod

Buying/Selling with knock on the door or letter to owner

jperiod
17 years ago

There's a neighborhood we really like, but there isn't much for sale there right now. We don't have a lot of good choices in our price range elsewhere, so we were thinking of renting for a while and waiting for something in this neighborhood.

A few people here mentioned selling their house to someone who knocked on their door or buying a house by sending a letter first. Just curious for more info about this. We're in a very slow market, so I could see this being attractive to someone who was thinking about selling, but hasn't because they think it'll take too long, etc. I wouldn't want to appear to be an investor, so I don't know what would best be said. Thoughts?

Comments (11)

  • mariend
    17 years ago

    I personally would not like a person just knocking on my door, but if I received a letter and wanted to sell, that might be a safer way. That way, if the person was really interested he/she can contact you if not, toss the letter and less feelings get hurt. Especially where there is a older person, or families. People today must be careful opening doors, giving out information and/or asking people to come in.

  • chisue
    17 years ago

    A letter is good. Write a short, one-page note expressing your love of the neighborhood and interest in finding a home there. We did this when we were looking for a condo in a certain complex on Maui -- and ended up buying from one of the four people who responded. (Another owner had just bought and was a treasure of information about the place.)

    When we bought the house that became a teardown and new build, we used a realtor friend as intermediary. We'd failed to reach a deal with one homeowner two years earlier and knew her to be a difficult person. Thought she and some others on the street would prefer to speak with an intermediary. We gave our friend names and addresses of properties we could be interested in (gleaned from the assessor's office) and he wrote to about ten owners. Of course when our deal went through, we paid him a small commission (Think it was $7K) for being our "point man". (Our attorney handled all the paperwork.)

  • talley_sue_nyc
    17 years ago

    I vote letter--maybe even a mass mailing, unless you see one house you really want to focus on first.

    "if you're interested in selling, or if you know of someone who might be, would you contact us...."

    Then they can all gossip about it, and encourage one another.

    We found out about the home we had a contract on bcs we spoke w/ a neighbor who said, "I think this person is going to buy.

    Also, in the next few years, attend any neighborhood events, make the neighborhood your "exercise walk" route, or dog-walking route, and chat up folks out raking leaves, or whatever (if anybody does that anymore).

    NEVER miss a garage sale in that neighborhood!

  • schnauzerluvr
    17 years ago

    I always think of the movie War of the Roses with Kathleen Turner and Michael Douglas wrt doing this. Didn't she accidentally stumble into a wake?

  • mcbird
    17 years ago

    I have a friend who has received postcards in the mail similar to what you are talking about. It intrigued her enough to mention it.

  • sweeby
    17 years ago

    We received a letter like that once, but the writer said specifically it was our house they liked. I always wondered how many of those letters went out, and if we got one because they thought our house looked 'affordable'. (We were mid-renovation on the exterior -- can't imagine it looked especially appealing.)

  • jperiod
    Original Author
    17 years ago

    Well, I mailed 42 letters tonight. I generally said we were interested in the neighborhood, that their house appeared to have some of the features we were looking for (specific floorplan model, pool, and north/south exposure), hence the letter to them and some of their neighbors. We'll see what happens!

  • simplifyingmylife
    17 years ago

    Please keep us posted, this is a very interesting approach. I would love to know how you do.

  • saphire
    17 years ago

    I might have mentioned the young family aspect, makes you seem less investory

    Did your house sell?

  • quiltglo
    17 years ago

    We sold a condo four years ago because someone picked up the phone and called. It wasn't our home, just a rental, but we didn't have it for sale at the time. You have nothing to lose, IMHO.

    Gloria

  • jperiod
    Original Author
    17 years ago

    Yeah, we mentioned that we were looking for a home to raise our family in and weren't investors looking for a "fix & flip."

    And nope, haven't sold the house. But we'll be switching to the new (lower commission) realtor in the next day or two and lowering the price again. Shouldn't be long now. Just hope we can still afford in that neighborhood when everything's said and done!!