Tips on how to ask neighbor to sell their house?

Question

Hey,

So my neighbor uses his house as a rental, he has another house he lives in down the street so it's convenient for him to keep an eye on it. For the last year or so he hasn't had any tenants, and from what I heard the last tenant (his step daughter and family) they were working on fixing the floors, walls etc. Apparently it needs alot of love. Since they moved out because the owner wasn't paying for the repairs, no one has came to the house to work on it. The owner comes sparingly to make sure the house is okay, again they live down the street and they can see its okay on the outside.

Does anyone have any tips on how I might approach my neighbor to see me the house for a possible flip? or even a wholesale?

Abel Curiel · Answer

Hello @Maria Andino!This sounds like a great opportunity for putting an off-market deal under contract.There are multiple ways to go about this.Direct/straight forward: Ask seller if they would consider selling the house to you directly. Then begin discussing terms and next steps.Lengthier approach: Start up a conversation with the seller and when it reaches a point to bring up the house, ask them what their plans with the house are. Find out what they'd do if/when they sold it. Listen out for any emotional cues that might hint at the seller's excitement or reluctance to let go of the property. There might be some sentimental reason for holding onto it. On the other end, they might have a medical or financial need to be met by selling the house. If they've left it vacant for a year and refused to do repairs, there is likely more to the story than what meets the eye.Listen intently, be patient and make your value proposition clear & concise.All the best!Abel

Theresa Harris · Answer

Why not go and knock on his door and say that you've noticed it has been empty for a while and were wondering if he was interested in selling it? Then finish the renos and sell it.

Larry Turowski · Answer

@Maria Andino do we live in the same neighborhood? We don’t really, but my point is this type of thing isn’t that uncommon.As everyone else has said, talk to him. Call directly if you can get his number. Or better yet, if you know where to find him, talk to him face to face. You want to try to get him in a conversation. I’ve left notes for people before but if he isn’t in enough pain to do anything about it yet, he probably won’t make the effort to call you.Come right out and explain that you are interested in buying but move on before he has a chance to say no. “I live right next door and was wondering if you’ve ever thought about selling. How long have you owned the house? Oh you used to live there and then rented it out when you moved? How did that work out? you’re step daughter lived here for a while, right? How did she like it?”Build some rapport and then start asking questions about why he isn’t renting it out now. Eventually circle back to your situation, why you’d be interested in buying and how, if he is ever think about selling, it would benefit him: no realtors commission, no hassles, etc. and if they expressed interest and ask them what they would be looking to get to the property. If he asks you are, you can always say well. You hadn’t thought too much about it yet because he didn’t know if he was interested in selling. And ask if you can see the inside.

Jaron Walling · Answer

In my experience this is how some of the best deals happen. You have market insight and probably common talking points (ice-breaker). Go break the ice and see if he's motivated to sell. Solve his problem.

Bob Stevens · Answer

UMM ask , do you want to sell, really not sure how else to respond. HOWEVER, do not approach them yet. You have no experience with reno and values. So connect with someone doing deals. Learn then apply what you learn. Heck show them this property. You will earn a fee, Good luck

Eliott Elias · Answer

Knock on their door and ask the seller if they would sell it, there is nothing complicated about this.

Sherylyn Holden · Answer

I agree with Theresa to simply knock on his door!Here are some potential ways you could convince your neighbor to let you sell their vacant home: 1. Highlight the benefits of selling: One of the most convincing arguments you can make is to emphasize the advantages of selling the home. You could point out that selling the home could help your neighbor generate income from an asset that is currently not being utilized. Additionally, you could emphasize that selling now could help your neighbor avoid potential maintenance costs and other expenses associated with owning a vacant property.2. Explain your expertise: If you have experience selling homes or have worked in the real estate industry, make sure to emphasize this to your neighbor. Explain that you have the skills and knowledge to help them navigate the selling process and get the best possible price for their home.3. Offer a competitive commission rate: Your neighbor may be hesitant to sell their home because they are concerned about the costs associated with hiring a real estate agent. To address this concern, you could offer to sell the home for a lower commission rate than other agents in the area. This could make your services more attractive and could help your neighbor feel more comfortable entrusting you with the sale of their property.4. Share your marketing strategy: One of the key components of selling a home is creating a strong marketing strategy that will attract potential buyers. If you have a clear and effective marketing plan, share it with your neighbor. Explain how you will showcase the property and attract potential buyers, which could help them feel more confident in your ability to sell the home quickly.

Bob Stevens · Answer

100%you should not even discuss anything with them. You have no idea what you’re doing I don’t mean that in a derogatory way. All you need to do is ask hey are you guys interested in selling if they say yes then find somebody that has experience and walk the property and make an offer. But you can’t do anything at this point except see if they are interested. And then try to find somebody doing deals in your area. I wish you good luck

Maria Andino · Answer

I do not have experience with renos, true. Maybe that's what's making me second guess if I should talk to them or not?

Maria Andino · Answer

I have thought about it and see what he says. What's the worst that he could tell me right?