Wasnt your buyer someone who saw your house before, nottelling, or was that someone else?
I think contacting homeowners has a small chance of success but the chance isn’t zero.
I sent out letters to 10 places I liked. One of the places went on the market. I went to the open house. I saud hello to the broker. Said a couple of words. Nothing interesting.
The broker said, “You are the guy who sent a letter”,
Blew me away. I asked, “Why didn’t you call me?”
There was no real answer.
It was ok. I bought a better place a little earlier. 
10? How many places do kids apply these days to get a job they want?
I forgot to say that the realtor who did the knocking lived in my neighborhood and knew (1) my husband and I had recently split up; (2) my only daughter had recently left for college; and (3) the place was in bad shape. It doesn’t take a rocket scientist to figure out that a recently divorced single woman living by herself in a big old crumbling pile might be in the market to sell.
That is a bit different, notelling
DeborahT, those 10 places were the only places I would buy. I knew where I wanted to live.
I bought one if the ten places but not because of the letter.
Nottelling, nice story.
Tough market. Dstark and Jym, I wish both of your kids the best. Jym, I understood you meant K, I was just being silly.
Jym, in response to your question, it was a different poster who had a buyer who had seen the house before. On my house, it was a new buyer.
Thanks, nottelling - I realized that when you shared your story. The other story was someone whose buyer had seen her home with a realtor, and now, a year or so later (IIRC) contacted her directly to see if she was still interested in selling. Sounds like in your situation it was quite fortuitous that your neighbor/realtor knew your situation. No fun as a newly single woman having to deal with major house repairs and getting a home ready for sale. Visions of the money pit! I am sure it was a great opportunity for both of you, and worked out well. Congrats.
Our neighborhood has a facebook page and periodically people mention that they are planning to put their house on the market and ask if they know anyone who is looking to buy in here (we are in a good school district and walking distance to the middle school). And I don’t mind the flyers in the mailbox. I would probably be a bit weirded out if some stranger rang my bell and said they were wanting to buy my house, or a house here.
When we bought the house we live in, it was actually not on the market at the time (but had been shortly before, FSBO, and they pulled it off) but I knew the owner (though had never seen the house) and asked her if she was serious about selling, and could we stop by. So in fact that is the way we got this house but (a) I knew the owner and (b) it wasn’t a hot market, nor an intown market. Even with the FSBO we did an inspection, mortgage, etc. Where my s is, many of the sales are no contingency sales. That would scare me, especially with a house not currently on the market, and the crazy prices that run where he wants to buy. I have no idea if that is done in the area where he is looking. The woman that owns the duplex where he lives lives nearby. A family member of hers lives upstairs from DS and his fiancee. I confess to occasionally having evil thoughts about the older woman, but DS and fiancee said her house is too small
And yes, deborahT I knew you were joking.
Yes…no contingency deals are common.
As a buyer, I think the chances are near zero.
First of all, the home owner will think: dealing with a buyer, I will ask to the hilt. I will add realtor’s commission on top of the high price I want and see what happens.
As a buyer, you’ll have no credibility of making an offer that is “fair” to the seller, he will think, if I put it on the MLS, it will sell for MORE. You certainly will not be that stupid to make an offer $100K over the real value.
Lastly, each home is different even its on the same street, so how do you know ahead of the time that home will be affordable. If it is not, aren’t you waste your time?
So, even if you find a seller by handing out flyers, you will have real problems find a suitable deal. It will be totally waste of time.
Twice in my professional career, I was told by buyers to ask the neighbors if they want to sell the property because my buyers want to “make my seller’s property square”, the answers were always disappointment. In commercial property, it is all about money and the next door always ask twice the value of my seller’s property in square footage.
Each home is not necessarily different. Where I looked yesterday, 5 or 6 styles dominated the area. Something like that.
I have the lot sizes of every house. I can get bedroom and bath numbers. Sizes of houses.
I can’t see the inside conditions of each house. Looking at the neighborhood, I would assume most of the insides are crap.
dstark
In your case, it does not matter whether the selling broker is the listing broker or not. It is your insistence that botch the deal.In seller’s market, you have to accept some tough terms and arbitration is the least I will worry. When a case reaches arbitration, it is material and when you buy a single family house, very few items could be material enough to go to the court. I was told a story that the seller sold the buyer the wrong house, in that case, everyone is suing everyone…
I certainly don’t think you would make that mistake…
=))
Where DS is looking each house is unique, and many have had renovations and remodels. Seriously doubt there are any two exactly alike.
If the seller’s broker was going to make thousands more in our deal, I don’t think arbitration would have been an issue.
I have heard of a large flipping company making a mistake and remodeling the wrong house.
Oh my! Someone musta loved a free upgrade!
No… The house that was remodeled was owned by another flipping company so they worked it out.
Do you mean that some home owner will let contractors he did not hire to come into the house and knock down the kitchen and bath?
The homeowner was a flipping company. Nobody lived in the house.