Property next door for sale. Interested but best approach ?

Daddy Ireland

Frequent Poster
Messages
459
A house in a very good rental location has come on the market next door to an investment property we own. The vendors know me in passing and some of my family. What is the best approach in showing interest. Would it be best to declare my name to their estate agent or use some outside friend to make offers and at the last minute declare my name as the real buyer if successful bidder. Do such things happen ? Or is it better to own up from the start in which case the vendor knowing I'm interested could hold out for more. Would I be better to approach the vendor and offer the asking price and a promise of 5k on top privately on contracts being exchanged if they remove it from market. Any guidance here please would be welcome.
 

twofor1

Frequent Poster
Messages
1,366
Would I be better to approach the vendor and offer the asking price and a promise of 5k on top privately on contracts being exchanged if they remove it from market.
I would not be offering €5K above asking, at this time anyway.

With all the talk of house price declines lately, it seems to me that those properties coming on the market now, in my area anyway, have higher than pre covid asking prices.

Pre covid, sellers would have hoped to sell for above asking price, now it seems they are asking for more and then accepting less than asking price.
 

Brendan Burgess

Founder
Messages
40,539
Talk to them and tell them that you will be approaching the agent and asking if they want a quick sale you would be interested but not at the asking price.

Don't try to get around the agent. But do let the vendor know that you are talking to the agent.

The alternative is to get someone else to do all the work. They exchange contracts. And then they instruct the vendor to change the contract into your name.

Brendan
 

Gordon Gekko

Frequent Poster
Messages
4,278
Straight away you’ve identified yourself as a potential mark by mentioning the €5k. If it was me, I’d deal directly with the estate agent via my wife using her maiden name. The estate agent will have exclusivity anyway.
 

Daddy Ireland

Frequent Poster
Messages
459
Thanks for thoughts. If we were now in pre Covid times I reckon this property would sell for 190k. It's guiding 175k so the house has a Covid price built in.
 

PGF2016

Frequent Poster
Messages
335
Why is this different to any other house purchase? Deal with the agent like you would on any other transaction. Know your limit and make offers up to that.
 

Gordon Gekko

Frequent Poster
Messages
4,278
Why is this different to any other house purchase? Deal with the agent like you would on any other transaction. Know your limit and make offers up to that.
It’s different.

Straightaway, rightly or wrongly, there’s a perception that the person has a greater need/want for the property and will pay more.
 
Top