Approaching neighbour to sell.

Discussion in 'The Buying & Selling Process' started by Raydar, 24th Feb, 2016.

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  1. Raydar

    Raydar Well-Known Member

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    Has anyone had any luck 'cold calling' a neighbour to sell?
    How did you approach? What tactics did you use? Were you successful?
     
  2. tomlemke

    tomlemke Well-Known Member

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    I wouldn't bother calling, go and talk to them.
    I wouldn't mention if you are planning on developing it either.

    You only get one shot at leaving an impression so try and
    create a relationship first don't go straight for the hard sale.

    Good luck! i vaguely remember you saying that you had a place near the uni?
    its tough times there at the moment so you might get lucky.
     
  3. Azazel

    Azazel Well-Known Member

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    Yeah, slowly slowly catchy monkey.
    Don't let them get a sniff of the development angle.
     
  4. Raydar

    Raydar Well-Known Member

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    I used the
    I used the term cold calling to describe an out of the blue conversation.
    There is a little a more to it. It currently resides next to one of our other IPs, we know the neighbours and are already friendly with them.

    They have been there for donkeys years, and are empty nesters.

    Yes the goal would be to develop, but not straight away.

    Not near the uni, but Mayfield.
     
  5. Raydar

    Raydar Well-Known Member

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    Any thoughts on having a BA contact them? Remove myself from the conversation all together.
     
  6. Terry_w

    Terry_w Structuring Lawyer and Finance Broker - all states Business Member

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    Tell them your elderly mother wants to live close by.
     
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  7. Moych

    Moych Well-Known Member

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    Make up another excuse to talk with them, is there a fence that's getting old, retaining wall, something to start the conversation? It doesn't really matter what it is to get the conversation going, then talk to them about property and that your looking in the area and then say if they're ever interested in selling to give you a call, and leave them with your contact details.

    It might not happen straight away, but if you plant the seed who knows, a few years down the track they may call back.

    A friends dad uses this approach often, he's philosophy is that it cant hurt to ask, just don't push the matter if they say no (or not at the moment).
     
  8. Chilliblue

    Chilliblue Well-Known Member

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    Or just place a google alert so you know when the property is up for sale.
     
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  9. Azazel

    Azazel Well-Known Member

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    How do you do that @Chilliblue ?
     
  10. Chilliblue

    Chilliblue Well-Known Member

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    @Azazel
    1. Visit Google Alerts.
    2. In the "Create an alert about" box, enter the words you want to get email notifications for.
    3. Click Show options to say how often you get alerts, what types of results you want to get, and more.
    4. Click Create Alert.
    You can also create an alert by clicking the + next to any of the suggested topics on the Google Alerts page.
     
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  11. tomlemke

    tomlemke Well-Known Member

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  12. Tonibell

    Tonibell Well-Known Member

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    OK we tried the friendly chat but it didn't really progress - the elderly neighbours have been there 30+ years and could not imagine selling.

    We have three development blocks and getting the fourth adds significantly to the potentional of the site - the neighbour's house has not further potential unless combined with ours.

    Our only scope to purchase is with a "security swap" with a house we are about to put on the market.

    We are prepared to pay above market value (obviously would like it as cheap as possible) and believe we have one shot at it before needing to work with what we have.
     
  13. Marg4000

    Marg4000 Well-Known Member

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    If they don't really want to sell, then you will need to offer
    Market price + selling legal and re-purchase costs (stamp duty, BP, legals etc) + moving costs
    Then a further allowance for the inconvenience of moving.

    Probably push the price too high.

    We have been living in our PPOR for 30+ years. Don't want to move. Any offer would have to be about $200K over top market value before I would even consider it. Not going to happen? Good!!
    Marg