Have any of you ever made an unsolicited offer on a home?

[C-Ya]

Hi everyone.

I have been home shopping. It’s depressing! lol

In my search I found what appears to be an dilapidated house. My wife and I have looked up the owners and we are preparing to make them an unsolicited offer on the home. We would tear down the existing home and build a new modern beauty, with RV garage, and other amenities.

We are putting together our letter to the owners. Here are some of the things we hope get their attention.

- They would owe no commissions to a realtor.

- It would be a cash purchase.

- We would pay fair market value for the lot.

- We can accommodate their move out schedule.

- We are not developers, and we would be building the home for ourselves, and not resale.

Can you guys think of anything else that you would include in the letter to the owners?

FWIW……. Here is what I like about the lot. It has approximately 190ft of potential docking. Its view is not straight across a canal. It has a long water view. It has a FIVE STAR location for entertainment, dining, nightlife, and more. The lot is 11,000sf. Qtr Acre.

Here is current pic of the home and lot. It’s the pink home in center of pic.

 

[attitude]

“It will make an awesome build thread for a boating forum I am on”

Best of luck!

 

[hallett21]

Figure out a way to make it not look like junk mail. Do you have anyway of contacting the owner via phone?

Edit. We get offers monthly. I respond with our exit number. They never counter lol.

 

[C-Ya]

Figure out a way to make it not look like junk mail. Do you have anyway of contacting the owner via phone?

Edit. We get offers monthly. I respond with our exit number. They never counter lol.

It’s funny you mention this……

I too, thought of that. Our letter looks like a wedding invitation. We are going to hand write it, so it does not look like junk mail.

 

[wzuber]

What a gem of a property...location, location, location...that's it! Haha
Learn enough about them to apeal to them on a personal level, like a good, valued friend. Everybody under the sun that has seen that property has had the same thoughts as you, including Ron Le Grand and many of his students no doubt..
Substantially over pay them for the property.
Learn and solve all their objections to selling/relocating.
Trade them some/enough Nvidia stock to
" move" them?
You suppose they might have family members salivating to have title to that property? Secretly plotting to off them and any other fam/mems standing in their way? LOL
Good luck Captain.

 

[Done-it-again]

Whatever you offer, make sure you keep 250k for that bitchin dock work that is going to be needed, that is a LONG seawall.

 

[WYRD]

You better be careful those streets look a little flooded.

 

[Ziggy]

As @wzuber mentioned, try appealing to them on a personal level so they know it's for you & the Mrs "retirement" home.
You get more with sugar.

 

[clarence]

I'd try speaking with a neighbor?

Might learn something helpful.

(Though you have to assume every neighbor has already made them an offer.)

 

[BabyRay]

You better be careful those streets look a little flooded.

Yeah, I nearly lost a house to a river. While this is a bit different, I’d be gun-shy about that place.

 

[Flying_Lavey]

I would absolutely NOT say anything that would infer you are going to tear down the house. There may be sentimental value with the house itself and that notion could get you thrown straight into the trash. Maybe stick more to fix-up, repair, etc. It gives the notion that you are intending to keep the house that they may be closely attached to.

If you are keeping it or not, tearing it down and making it a modern mini-mansion (in the sellers eyes) puts many in the space as a flipper or developer.

 

[TimeBandit]

Fast all cash closing.

No inspections.

Go knock on the neighbors doors on a saturday morning, who knows what you might learn.

You might learn you want nothing to do with the 'hood.

 

[Gonefishin5555]

Is it owner occupied? I'd go knock on their door. Be prepared to leave your contact info if they aren't interested so they may change their mind and call you later. Also look up zillow history to see how long they've been there etc. Look up any waterfront land sales or teardown sales in the area in last 3 years to get an idea of value. Some people would look at zillow and expect you to at least offer that price.

 

[zhandfull]

Maybe leave out the part of tearing down the old house. You and your wife just love the location.

Might be some sentimental attachment to the actual house for current owners.

 

[n2otoofast4u]

"take what you want and leave the rest, we will deal with donating what we can and getting rid of the rest".......... Make it as easy on them as possible!

 

[Gramps]

knock on their door ??????

 

[Todd Mohr]

I bought 2 pieces of land that way in N Nev 20 years ago. I went to the county recorder and got the names of the owners, then found their phone numbers in the phone book. I called and was able to purchase both plots from 2 different owners. Took a bit of research and some time, but got it done. I think mail will take forever and most likely will get thrown out. I'd go knock on their door if it's at all possible. Good luck, could be a fun adventure.

 

[angiebaby]

Wow. That is a great lot! Good luck May the odds be ever in your favor.

 

[Done-it-again]

It looks to be the worse house on the street, I'm sure others have already knocked. Its going to be the size of the suite case to get it done!

 

[Racey]

I would imagine that a lot of people sit on properties like this because of the capital gains taxes and then the subsequent massive increase in property taxes when they purchase something new..... Property rich and cash poor

 

[Angler]

The empty lot on upper left hand corner of the photo, is that a residential lot?

 

[X Hoser]

I have done this in the past and it worked out well. I don’t think I’d mention commissions, but make sure they understand you are NOT a Realtor, have the cash and ready to buy at market value. Let them know you want the deal to be good for both parties. Try to give a personal reason why you are interested in their house specifically. Family, friends close by? Something. With the way insurance premiums are going this day and age they may be ready to sell? Let them know you are up to date on what the insurance companies are charging.

Many people do not know how to buy or sell a property without an agent. Assure them most Title Companies have Escrow Departments and will handle the transaction and dispersement of monies. You can mutually agree on a company.

Letters seem to get ignored more often than not. Next best is to try and get a phone number for them. Absolutely best case is to meet them in person and make your proposal. People are growing Leary of scammers and telephone solicitors. Be preopared to assure them you are not any of those! A Saturday morning walk in the neighborhood talking to as many neighbors that will talk to you may reveal the best information. Good Luck and hope you are successful.

 

[2Driver]

Its how we bought our lot in Havasu back in 1985.

Looked up the owner and talked them into selling

 

[rivermobster]

I would imagine that a lot of people sit on properties like this because of the capital gains taxes and then the subsequent massive increase in property taxes when they purchase something new..... Property rich and cash poor

Right.

Make an offer that would cover the property AND maybe the taxes they might have to pay, if they just keep the money?

I mean...

How bad do you want it?

 

[Willie B]

… I get letters in the mail all the time with people making offers to buy my Lake Oroville property… when I counter half of the time, I never hear from them again… This reminds me that there’s a couple of potentials I should call back…

 

[DarkHorseRacing]

So, dress up a little when you go to their house? So you don’t look like a shlub but not so nice to look like a developer?

Probably a fine line in there somewhere.

 

[boatpi]

Number of years ago, I met Amie and Scott, who were portrayed in the television show flipping Vegas



. Pretty cool guy pretty smart. He grew up in the San Fernando Valley and started flipping one house at a time, but they were very expensive so we tried to figure out where would he go next week could do multiple houses and make more money and end up in Las Vegas.
He used to drive through neighborhoods all day and look for the ones that were vacant dilapidated Clark county has the owners listed online. He would research and call the owners often auntie Mar in Kansas and offer her cash for the piece of shit house probably about half price. And that’s how he got going, last time I talked to him was about four years ago. He fired all of his staff because they were screwing him and just started using outside vendors and he owned about 190 houses at that time he stopped flipping at one point and started keeping ones here and there he’d buy on a song.

 

[JB in so cal]

Any grand kids? Include how much they'll enjoy the wonderful location on the water

 

[Hypnautic]

My parents really liked a home in Hawaii. They had just started looking at homes and were not up to the know on how fast some homes go.
Home got over ask in less than 48 hours--so my parents reached out to Sellers Agent and got the Buyers Agent info. They made an offer to Buyers to sell home $150K over their buy price plus cover all closing cost and Agent fees. Basically, Buyer would finish their transaction and then sell home even before ever moving into home. They would have got all their money back plus $150K and they turned down the offer. Thats a 10% ROI for a home you owned less than 30 days and never lived in.

 

[C-Ya]

So I left out some details for simplicity………

The pic I posted is actually a couple of years old.

Currently, the house just to the left of the target house has been torn down, and is about 30% complete. It’s super modern.

The lot you see in upper left of pic, now has a “new”extremely modern home on it.

Id knock on the door of the dilapidated house, but it appears to be abandoned.

Through research, we have found out that the couple that owns the house purchased it in 1997. They are 67 years old. They immigrated from Cuba. Their Facebook page has not been visited since 2018. They are registered Republicans. They have 1 daughter.

Here is a more recent aerial pic from google. In this pic, the home next door has been torn down and is just an empty lot. As of yesterday, the cinderblock walls are up. It’s a great design too!

Here is a google pic of front. It’s as bad as it looks. Maybe worse. It looks like nobody has lived there for a while.

 

[hallett21]

So I left out some details for simplicity………

The pic I posted is actually a couple of years old.

Currently, the house just to the left of the target house has been torn down, and is about 30% complete. It’s super modern.

The lot you see in upper left of pic, now has a “new”extremely modern home on it.

Id knock on the door of the dilapidated house, but it appears to be abandoned.

Through research, we have found out that the couple that owns the house purchased it in 1997. They are 67 years old. They immigrated from Cuba. Their Facebook page has not been visited since 2018. They are registered Republicans. They have 1 daughter.

Here is a more recent aerial pic from google. In this pic, the home next door has been torn down and is just an empty lot. As of yesterday, the cinderblock walls are up. It’s a great design too!

View attachment 1403080

Here is a google pic of front. It’s as bad as it looks. Maybe worse. It looks like nobody has lived there for a while.

View attachment 1403081

Think they’re alive?

 

[ChumpChange]

As Is. This will let them know that you’re not gonna be coming back to them for credits after an inspection.

They don’t have to know that you’re going to tear the house down which is why you don’t care but let them know you’re buying it no matter what.

 

[C-Ya]

The empty lot on upper left hand corner of the photo, is that a residential lot?

It now has this home on it.

 

[C-Ya]

Think they’re alive?

Think they’re alive?

It’s funny you mention this. After our research, we think there is a chance the husband has died. We are still trying to confirm this.

 

[C-Ya]

Btw, I appreciate everyone that has chimed in!

The other thing I forgot to mention. 3 homes are under construction right now, on that short street.

 

[Todd Mohr]

The county is collecting property tax on it, where are they sending the bill to?

 

[Romans9]

Damn, I’m not sure if Im more excited for the stock thread or this property purchase?

Find this person, go to them in person. Visit them, treat them like someone you admire for owning such a nice property and win them over.

Hurry up, you are out the only person wanting this.

I wouldn’t let any of the neighbors know until you are the owner. Everybody knows somebody that they would like to have for a neighbor and they will call them asap to undercut you.

BTW will you have a guest bedroom?

 

[DWRAT]

So you want to buy the house and lot for "We would pay fair market value for the lot." ?
Good luck on that low ball offer.
If you want to buy it, offer them a price they can't say no to.

 

[C-Ya]

We are trying not to get too emotional, since we have not even made contact yet……….

But of course we have discussed certain features that we would want in any home we build.

Here are some of them…….

The pool

We want a swim-up bar with shade and television. A negative edge element so it appears like the waterway starts at our pool at night. The pool needs to have sitting benches. The spa needs to double as a centerpiece type fountain, when not in use. Multiple waterfalls. May as well make a long lateral distance just in case I want to swim laps for exercise.

The other side of the swim-up bar would have dry seating, builtin bbq, and other amenities. It’s basically a sunken tiki hut, but with a modern roof to match modern home.

The other side of pool would have outdoor fireplace, fire pit, and super comfortable outdoor furniture.

We would hire a lighting designer to get the entire home pimped out with proper lighting. This includes underwater lights on new dock.

Speaking of the dock…….

If I am able to purchase the home in this thread. Here is my list for the dock.

First……. Raise and rebuild sea wall. Add 2 elevator Boatlifts. One at each end of the dock. Then hire dock builder to fill in gap with pilings and new dock. The entire 190 feet would be built out. Underwater lights. Dock lighting. But the centerpiece would be the lighted wall of water that overflows from the negative edge pool, right at the center of the dock. Speak about curb appeal from the water! It should look spectacular.

When building the rv garage portion of the home, I will pre-plum the garage to be converted to a guest house, when I age out of boating.

We would hire an architect to put all of our ideas to plans. I did find the home below on the internet. I’ve been using its footprint as a basic outline of the house I would build. I want one much more modern looking than the picture below, but the pic gives a good concept.

There’s more, but I am running out of gas. lol

 

[shintoooo]

Write up your offer and deliver it like this

 

[C-Ya]

So you want to buy the house and lot for "We would pay fair market value for the lot." ?
Good luck on that low ball offer.
If you want to buy it, offer them a price they can't say no to.

How do you know it’s a low ball offer?

 

[boatpi]

Go after your dreams we did something like this about six weeks ago in Las Vegas. I got pissed off at my homeowners association for non-allowing me to be a large enough garage for all my toys on my half acre property. Drove about a half mile away in the same ZIP Code and purchased basically a 1 acre estate 4000 ft.² wall and Gate for ca$h. Can I have some work done to it over the next few months then move in I’ll sell my house which is appreciated. 100% in 5 1/2 years.

Now I won’t have a homeowners association I’ve got my own well septic and a damn palace to live and we’re gonna have a good time with the yard in the pool. And plenty of places for my cars.

Go for it you’re on the right path.

 

[DWRAT]

How do you know it’s a low ball offer?

Because you wrote ""We would pay fair market value for the lot."
That clearly says you don't want to pay for any improvements on the lot.

 

[DLC]

Damn, I’m not sure if Im more excited for the stock thread or this property purchase?

Find this person, go to them in person. Visit them, treat them like someone you admire for owning such a nice property and win them over.

Hurry up, you are out the only person wanting this.

I wouldn’t let any of the neighbors know until you are the owner. Everybody knows somebody that they would like to have for a neighbor and they will call them asap to undercut you.

BTW will you have a guest bedroom?

RDP Sign up Sheet ….

 

[whiteworks]

If you send a letter put $100.00 bill in it, if they open it, they will read it. I’d also put your top dollar offer in the initial letter. I get contacted all the time about different properties I own that are not for sale, I toss the letters.

 

[satellitemike]

We are trying not to get too emotional, since we have not even made contact yet……….

But of course we have discussed certain features that we would want in any home we build.

Here are some of them…….

The pool

We want a swim-up bar with shade and television. A negative edge element so it appears like the waterway starts at our pool at night. The pool needs to have sitting benches. The spa needs to double as a centerpiece type fountain, when not in use. Multiple waterfalls. May as well make a long lateral distance just in case I want to swim laps for exercise.

The other side of the swim-up bar would have dry seating, builtin bbq, and other amenities. It’s basically a sunken tiki hut, but with a modern roof to match modern home.

The other side of pool would have outdoor fireplace, fire pit, and super comfortable outdoor furniture.

We would hire a lighting designer to get the entire home pimped out with proper lighting. This includes underwater lights on new dock.

Speaking of the dock…….

If I am able to purchase the home in this thread. Here is my list for the dock.

First……. Raise and rebuild sea wall. Add 2 elevator Boatlifts. One at each end of the dock. Then hire dock builder to fill in gap with pilings and new dock. The entire 190 feet would be built out. Underwater lights. Dock lighting. But the centerpiece would be the lighted wall of water that overflows from the negative edge pool, right at the center of the dock. Speak about curb appeal from the water! It should look spectacular.

When building the rv garage portion of the home, I will pre-plum the garage to be converted to a guest house, when I age out of boating.

We would hire an architect to put all of our ideas to plans. I did find the home below on the internet. I’ve been using its footprint as a basic outline of the house I would build. I want one much more modern looking than the picture below, but the pic gives a good concept.

View attachment 1403190

There’s more, but I am running out of gas. lol

Runing out of gas, how about cash? The home you are discribing sounds amazing. I hope the cost to build there is a bit more reasonable than here on the west coast!
Good luck w the purchase and build.

 

[COCA COLA COWBOY]

I literally do it everyday! Good luck on that. It's actually in text books that owners believe their homes are worth more than the true value and in about 90+ % of the time, this is absolutely the case. Believe it or not, the dilapidated ones are usually the ones where the owners think they are worth way way more than what they are. Much of the flipper homes come to market after the person dies or is put into an assisted living facility. Much of my marketing comes from "I buy houses" and I will and have, but when you sit down with owners, you have to show them the comparables. To really get them to believe, they have to see the comp's in person what homes sell for. I usually have to take owners to similar homes in escrow and call the agents on speaker to they can hear for themselves what they are selling for. Even then, many/most don't get it.

However, it can happen....it's a numbers game, but to put your future on the likelihood of one home is very unlikely. If you create a relationship and wait them out (could be years) your chances go way up.

 

[was thatguy]

My guess is that others have been trying to buy it for a long time.
With those new builds all around it?

 

[Cdog]

Give me a buzz when you have a moment I’ve got some trade secrets for you

 

[Singleton]

Find the daughter and try to talk to her.