Can a person go to a house and offer the owners the worth of the house so they can find a new house?

Asked by Stephanie Zimmerman, Lindenwold, NJ Sat Nov 24, 2012

In the future I plan to buy my childhood house back if they put it up for sale or not.

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John Sacktig, Agent, New Jersey, NJ
Sat Nov 24, 2012
Sure you can Steph and you do not need a Realtor to do so at all. You can figure out the value of the home with comps from the area.

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.
3 votes
I follow the house on here it's worth $183,000 i have a lot of saving to do. 30 morris drive
Flag Sat Nov 24, 2012
Kenneth Verb…, Agent, PRINCETON, NJ
Mon Nov 26, 2012
Steph you are free to ask anyone to sell their home to you. If it is listed you will have to go thru an agent though as listing agreements typically require seller to forward enquiries such as yours to their agent. As was stated you do not need assistance of an agent. As to price, I would suggest if owners are agreeable to selling that you both share the cost of an independant appraisal. Let the appraiser know the price needs to be fair and will obviously have to be supported by another appraisal done by your lender (if you are getting a mortgage). I would also suggest you get a home warranty so as to get some piece of mind for the first year that unexpected repairs wont do you in. Good luck. and dont wait to let them know what you have in mind as you never know, they may have selling on their mind as I write this.
0 votes
Annette Law…, Agent, Palm Harbor, FL
Sun Nov 25, 2012
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
0 votes
It would be my first time and along with buying a house.
Flag Sun Nov 25, 2012
Eleise Queen…, Agent, Sicklerville, NJ
Sun Nov 25, 2012
John makes good points however, a home is the probably the most important purchase you will make. The house may or may not be an attachment for the current owners. Find out the situation (is it in foreclosure, etc.) There are plenty of people living in houses which they are in trouble. Also, get inspections done by licensed, certified inspectors. There is more to it then just knocking on the door and asking them to sell you their house. I understand it is personal, but you want to be safe not sorry. If you are confident handling it yourself then by all means do so. If not, you may want to consider enlisting the help of a professional.
0 votes
I lived in the house till 2005 from 1998 and there wasn't anything wrong with it and the people who bought it from us sold it again 5 years later. So the owners in it now are the 3rd owners and I know they painted the walls and redone carpet and put in hardwood floors and did the basement really nice. I went by the house recently and they need to power wash the side and fix a downspout on the side of the house.
Flag Sun Nov 25, 2012
Eleise Queen…, Agent, Sicklerville, NJ
Sat Nov 24, 2012
I agree with Terry. Good luck.
0 votes
terryriw53, Agent, Sewell, NJ
Sat Nov 24, 2012
You could approach them and ask. But you'd have to find the value of that home in the current market. That is where a professional real estate agent would be essential and quite helpful. They could tell you what the current market price of the home would be.
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