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Unsolicited offer for particular home

Discussion in 'The Buying & Selling Process' started by Kirsti327, 20th Jul, 2015.

  1. Kirsti327

    Kirsti327 Active Member

    Joined:
    2nd Jul, 2015
    Posts:
    40
    Location:
    Newcastle NSW
    Hi team

    My family own a commercial property (motel) that shares a fence with 6 different residential properties. We expect that the site will be excellent for future large scale development, and have been keeping an eye out for any of these houses being listed so we can increase the size of the block. Two of them in particular would be fantastic to purchase as they would increase our street frontage.

    Problem is, we've waited 13 years already and they haven't been listed yet. We have no intention of selling or developing the site within the next 5 years so can keep waiting, but I'm cashed up at the moment and started thinking about making an unsolicited offer to the owners.
    I'm not sure if that would be a good idea. They'd probably realise straight away that I was connected to the motel and demand a high price once they knew we wanted it.

    Do you think it's best to approach them, or keep being patient and don't tip them off to the fact that we want it?
     
  2. KateAshmor

    KateAshmor Victorian conveyancing lawyer Business Member

    Joined:
    25th Jun, 2015
    Posts:
    74
    Location:
    Melbourne
    Approach, without being overly keen. You never know what their circumstances might be.
     
  3. Propertunity

    Propertunity Exclusive Real Estate Buyers Agent Business Member

    Joined:
    19th Jun, 2015
    Posts:
    1,224
    Location:
    NSW
    Consider using a local Buyers Agent to represent you. We often bid at auction for buyers that wish to remain anonymous for much the same reason you are outlining.

    Alternatively, pay a solicitor to write a letter on behalf of "one of their clients". If you use a trust or company name to buy in, the vendor will not be aware that it is you the motel.
     
    Beelzebub likes this.