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Buying a house that is sold STC...

D

DTA

Clint Dempsey
Guys really like this house that has been sold STC.

Its in the right area, the right size the right potential the right price 'one of a kind' etc etc etc.

For a while i thought i wouldnt go for it, as it wasnt a nice thing to do to the couple ( if it is a couple... could be a developer for all i know) who have 'brought' STC (basically had a bid accepted). But circumstances have changed recently which has lead me to believe i should do the best thing for myself and for those in my circle rather than someone i have no connection with, owe no loyalty to etc etc (long story. but basically not a great time)

Any advice about how i can possibly stand a chance getting it?

Any estate agents here that could offer advice?
 
Money talks but on a property that is STC, it would have to be more than a few extra grand above the sold price. Factor in that the seller has all in stuff in place and ready to move into a new property themselves, advising solicitor, conveyancer etc that finance will be accessible . Make it worth their while if its a dream property. Put yourself in the sellers shoes - would you give up a done deal for a few extra grand?.. A bird in hand and all that springs to mind
 
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Have you viewed the place already?

If the buyer has stipulated that it's taken off the market, then the agent can't make any more appointments. If you already have an appointment or have already seen the place then you can go ahead.

I recently did something a bit similar. I was low-balling a couple of offers on a house I wanted and got a call one evening telling me that they'd accepted an offer and it had been taken off the market. The estate agent screwed up because he confirmed acceptance of the offer before checking that everyone with an offer had made their final ones - I hadn't. The person who thought the place was off the market was understandably tinkled off when I put an asking price offer in but that was the agent's fault.

Be wary though.

If I've agreed a price with someone then to me it's a binding deal, whether it costs me a few grand or not. That's just a matter of principle and it means I can sleep at night. If you're doing a deal with someone who will go back on an agreement for the sake of a few grand, then there's nothing to stop them doing the same to you.
 
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It's a nasty thing to do but at the same time it is how the market works right now. Personally I would never do it but if there is no contracts exchanged then you can just wander up to the house and knock and make your offer. It has been done to me when i was buying last year.
 
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Cheers guys for the replies and advice. Been to see an independent morgage advisor and he thinks we can do this chain free. So thats something to offer the seller i guess, something that they may not have with the buyer at the moment.

Going to speak to the agent tomorrow.
 
DTA said:
Cheers guys for the replies and advice. Been to see an independent morgage advisor and he thinks we can do this chain free. So thats something to offer the seller i guess, something that they may not have with the buyer at the moment.

Going to speak to the agent tomorrow.
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How'd it go? I'm interested in this as I'm in the middle of selling mine and I'd like to know how it pans out for you
 
Has anyone sold their house via internet i.e purple bricks etc not through an estate agent on the street,be selling my house soon. Just want to know what generates the most interest?
 
Charliedup said:
How'd it go? I'm interested in this as I'm in the middle of selling mine and I'd like to know how it pans out for you
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The estate agent wasnt interested at all in even entertaining telling the sellers. She said if it fall through it we would be contacted first.

It's an amazing house.... but it would have stretched our budget.... to purchase it without selling my house..... so maybe it turned out for the best..... still look at pictures of it wistfully
 
DTA said:
The estate agent wasnt interested at all in even entertaining telling the sellers. She said if it fall through it we would be contacted first.

It's an amazing house.... but it would have stretched our budget.... to purchase it without selling my house..... so maybe it turned out for the best..... still look at pictures of it wistfully
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The estate agent is legally bound not to help you in that case.

If you have already seen the house you.can view again and offer, but once there's an agreement to take the house off of the market then the estate agent can't help any new buyers.

I have heard of people simply putting a letter through the door of the house with an offer on it, but that's really stretching the moral boundaries. If the current buyer is an investor then it's fair game - if it's a family then that's poor form.
 
a spur from swansea said:
Has anyone sold their house via internet i.e purple bricks etc not through an estate agent on the street,be selling my house soon. Just want to know what generates the most interest?
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Friends of mine did, apparently much easier to do.

I've had to do all the work for my estate agent anyway - they're too dumb/lazy to look up the details of my house's listed status or any planning history so I've had to do it all for them.
 
Estate agents do bits but a lot of the time they just want to push you to use their mortgage guy and their solicitors and loads of other stuff. As soon as I had my offer accepted I had my own mortgage guy in and had my own solicitors involved. The agent is still making a bucket load anyway.

Also I am stunned to see Scara has a moral compass but agree wholeheartedly that gazumping a family is a horrid thing to do. And investor though, do it.
 
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Just knock on the persons door. Tell them you wanted to make an offer but the estate agent blocked it.

Say you will pay their fees and give them something on top.

Worth a go if u love the house. Don't do it if it's going to cause u financial problems.

Took me over a year to find my house. So glad we got this one in the end. By far the best one we've seen. Something good will come up eventually.
 
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Spursman said:
Just knock on the persons door. Tell them you wanted to make an offer but the estate agent blocked it.

Say you will pay their fees and give them something on top.

Worth a go if u love the house. Don't do it if it's going to cause u financial problems.

Took me over a year to find my house. So glad we got this one in the end. By far the best one we've seen. Something good will come up eventually.
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And imagine if, having found this house that you love after over a year of searching, having agreed a price and started the conveyancing work, someone had knocked on the seller's door and offered them more and the seller accepted. You'd be pretty p*ssed off, I'm sure. I know sh*t happens in life and not everyone plays fair, but it just feels like the wrong thing to do, imo.
Edit to say equally wrong (imo) of the seller if they accept.
 
Yeh you're probably right, took us 6 months to move in and prices moved up by about 50k, we were lucky the sellers didnt ask for more. Its not the right thing to do to a family or couple, but if its developers who are just going to rent it then get in there. Difficult to find out tho.
 
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scaramanga said:
The estate agent is legally bound not to help you in that case.

If you have already seen the house you.can view again and offer, but once there's an agreement to take the house off of the market then the estate agent can't help any new buyers.

I have heard of people simply putting a letter through the door of the house with an offer on it, but that's really stretching the moral boundaries. If the current buyer is an investor then it's fair game - if it's a family then that's poor form.
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I agree re investor and family.... gonna have to let it go i think
 
Spursman said:
Yeh you're probably right, took us 6 months to move in and prices moved up by about 50k, we were lucky the sellers didnt ask for more. Its not the right thing to do to a family or couple, but if its developers who are just going to rent it then get in there. Difficult to find out tho.
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Thats the thing. I wouldnt want to do it to a family.... if i knew it was investors i would probably try to approach the owners.... but as you say very difficult to find out. So im going to leave it unless it falls through.

Really appreciate the advice from everybody though. So thank you all.
 
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