I'm not sure where to post this, since it is not related to photography at all, but I was hoping for some input.

We've purchased a new house that isn't to be built until the end of Novemeber. We were planning on listing our current one, the first week in August.

Yesterday, someone rang my doorbell asking if there was any chance that we would want to sell our house.
I explained that we were going to sell but that the house wouldn't be available until November. The lady said that would be fine with her.

My husband called them yesterday, and they talked a little. Now they are going to come and see the house on Friday.

I find the whole situation more than a little ironic. Apparently this couple has bought and sold 5 houses in that last few years, all through private sales.

I'm just wondering if this is a "too good to be true" situation or just great luck. Does anyone know of anything that could go wrong in this kind of scenario. I assume that the buyer wants to buy privately to bring the price of the house down but should the price fall below market value, since we would be saving the real estate fees, or should it still keep its value????

Any insight and advice is most appreciated.

Thanks so much
Jen

call a lawyer.

This happens all the time Jen. We've been approached as well and have thought about doing the same on property that we were interested in. Seeing as how this couple is well versed in real estate, chances are their financing is pretty solid so I would feel good about that. I don't think the price of the house should have to go down much at all. Perhaps if you subtracted what the commissions would have been you would have a good starting point for negotiations. I think a lot will depend on the market you are in and what your comps are selling for. It's not like this a distressed sale and they are picking it up at foreclosure. They came to you. I would say that you own the upper hand in terms of negotiating price. Once again, know your comps so you can feel comfortable with what your are asking for. Good chance those buyers know what the market bears for your property already.

Taka has said it all pretty much Jennifer.

If you were out here in Edmonton, I'd factor in price increases that will surely come over the coming months, as the market here is crazy right now. 15% increases over 2 months is not uncommon right now.

AS they say in the secret, It's the law of attraction Jen, go with it.

Eric.....we plan to do just that when a written offer has been made.

Thanks Taka. That makes me feel better.

Thanks Chris. You're right about the market going up by the summer. That is something that we'll definitely have to consider.





Jacqui.....girl.....that is exactly what I was thinking!!!!! I can't believe you said it. But can it really be??? Anyway....if that's true, where's my million dollars? I'll let you know when it comes in!!!!

We purchased our home this way - we approached a home we wanted (it backed onto a family member's property), and talked to them about contacting us when they were ready to look into selling. In the end, we used some do-it-yourself forms and agreed on a price where each got 2 estimates, and averaged the two middle prices, and split the commission.
Use separate lawyers, and you should be good to go!

It worked out great, and I love my house!

Thanks Tess. I really appreciate the help.
I was worried that it was a scam or something.

Cheers
Jen