All Topics / Help Needed! / Making an offer on place not on the market

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  • Profile photo of lisaslisas
    Member
    @lisas
    Join Date: 2005
    Post Count: 36
    February 18, 2007 - 7:56 am

    Hello
    I am after a bit of advice from those who have been successful in offering to purchase someone’s property which is not for sale. I own 2 units in a small group and the owner of the unit in between mine tends to put in toxic tenants, which in turn causes me tenant issues.

    I would like to purchase this unit, and am prepared to pay a fair price for it as it is in a good location and the 2 units I already own get a good rental return. However if the owner knows that the offer is coming from me then may be tempted to inflate the price as I am motivated to purchase the property, that is if they are even interested in selling.

    How is the best way to make an offer to purchase the property? Should I ask an agent to make the offer on my behalf in writing and not let my identity be known or should I just call the owner and ask if they are interested in selling? I’m just not sure of the best way to approach this one. I have spoken to them about the tenants they have selected in the past and they didn’t appreciate my input – to say the least, and they are now reletting the unit after the last tenants trashed the place and left with rent arrears. Perhaps this experience has made them motivated to sell??[hmmm]

    Has anyone had a similar experience?
    Thanks

    Profile photo of BeckBeck
    Participant
    @beck
    Join Date: 2007
    Post Count: 24
    February 18, 2007 - 10:27 am

    Hi Lisaa,

    Why not get afriend to ask for you?

    Happy Days,

    Beck[suave]

    Profile photo of HookhamCHookhamC
    Member
    @hookhamc
    Join Date: 2007
    Post Count: 83
    February 18, 2007 - 11:36 am

    Hi Lissa,

    I would just talk to the owner. If they inflate the price then pull out – fool them. I believe that if you are found to be pulling tricks, you will lose all face.

    Maybe they say no in the short term but if all people involved are professional they may come to you first if and when they want to sell.

    All the best. [cigar]

    Profile photo of JFisherJFisher
    Member
    @jfisher
    Join Date: 2007
    Post Count: 143
    February 18, 2007 - 12:56 pm

    I have just been talking to my solicitor this week when getting some legal work done and asked him a similar question.
    You can get a friend to submit an offer in writing using “their name and/or nominee”. Once the offer is accepted you have up to no later than two weeks before settlement to change the name to your name (as the nominee) in order to allow enough time to sort out the name change on the title. I would speak to your solictor regarding the exact wording if your written offer is accepted.

    Get some independant advice….you know the rest![happy3]

    Regards Julie

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