In this situation, I would not get a Realtor involved as it may come off as cold and business like, this is personal for you.. and it could be personal for the people that now own the house. What does that mean? Well, the current market value may be thousands less than the owners value.
Remember, everyone thinks they live in the Taj mahal... that comes with a lot of attachment and sentimental value... that value may not be what the people that "make the value" say it is worth. So you are walking into uncharted territory. You should continue your due diligence and figure out a way for that homeowner to want to sell that house back to you. Otherwise, you are open to whatever they say they want for the house.. current value or not.
I wish you the best of luck with this.. let us know how this turns out for you.
Yes, you certainly can. How often have you done that successfully?
This purchase you are considering has real personal meaning for you. Very likely more emotional meaning than the current owner. I recognize that EVERY citizen upon whom the sun shines believes they are in full control of their reasoning and emotions and could not possibly err in a manner detrimental to them. Day in and day out this confidence of proven to be faulty. Those who are emotionally involved in the decision making make bad decisions.
One role a real estate consultant fulfills in the selling and buying process is that of the emotional shock absorber. These skills allow the buyer and seller to look at the merits of each position and identify the common ground, the benefits and the outcomes each participant would accept, free of the volatility emotions can create. In the overwhelming number of cases this aspect of professional representation goes unnoticed...because we do it well, therefore the emotional roller-coaster is substantially diffused. Buyers and seller never see their real estate consultant sitting in silence determining how to attenuate the 'shooting from the hip' responses they often receive from the other side. It is our task to not allow our clients to take up offense due to reckless comments. That is what a shock absorber does, absorbs the hit to insure your SAFETY.
Add to that the benefit of knowing the local market values and the skill of presenting a win/win offer to a seller whose home is not for sale, can prove essential. There is one ESSENTIAL element a agent will bring that you can not. This element is the greatest motivator for the current owner to sell to you. I'll let your agent reveal this to you.
it is always your choice how you wish to proceed. That what is so incredible about real estate, the citizen does have a great spectrum of choices....not all of them will prove beneficial
Best of success to you.
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL