Making an offer for a Property

[Benten]

Morning,

I live in a block of 6 flats. 1 of the flats has not been lived in for a lot of years. I have paid to see the registry details online. It appears to have been owned by a man who also owned a large company.
This man died leaving the company and it's assets to his daughter. Flat prices in Edinburgh are always on the rise. From previous sales of similar flats I reckon a finished flat would be sold for £130k. With a flat that was in quite a bad state being offers over £100k.

With companies and people in general not being cash rich I am considering sending the woman an offer of £80k.

Does anyone have any advice on the best way to do this?

Thanks,

[Saleen836]

This rang a bell, did you not do anything after last time you asked on this subject?

https://www.pistonheads.com/gassing/topic.asp?h=0&...

[cerberaperv]

Are you asking how to find the lady or how to present your offer?

Sounds like the owner can be found by contacting her company. As for the offer, get in touch with her by email or phone and just say you are interested and would she mind allowing you to view the flat with a view to making her an offer.

[Al Gorithum]

Seems to me that if his affairs are still in probate, you'll need to speak to the (normally) law firm handling the matter. £80k sounds like a bad offer to me, and any juicy deals in probate are often hoovered up by unscrupulous insiders, but all the best with it

[Benten]

Saleen836 said:

This rang a bell, did you not do anything after last time you asked on this subject?

https://www.pistonheads.com/gassing/topic.asp?h=0&...

Appreciate it, I didn't know how to find this. I managed to get all the details of the owner. I was looking for advice on the next step of making an offer.

Edited by Benten on Saturday 20th February 13:00

[22s]

Letter to the owner explaining who you are, why you're getting in touch, and how to contact you.

Wait until you actually speak before you start talking numbers.

[22s]

This is the letter we send to owners re: development sites. You will obviously need to tweak it to make it more personal and you'll probably get a better response than we generally do. But it gives you the gist.

Our letter said:

Dear xxx- I hope you are well and staying safe during the current pandemic.

My name is [name] and I am getting in touch regarding [address].

Apologies for the direct approach, but our team has been closely monitoring the local area, and we are actively looking for opportunities to provide much-needed family housing for the community.

My business partner and I run a professional property development company, [company name], and have over 10 years of combined experience delivering high quality housing in the south-east. We solely operate in the private homes market and are pleased to see that [address] has some great potential, particularly with regards to the size of the plot upon which the property sits.

Should it be of interest - under any circumstances or timescales - we would make a very generous offer for all (or part) of your property, and can be flexible with the purchase structure to suit your requirements and timescales. We believe in creating a win-win scenario for both you and us.

If you are open to a conversation, I would be delighted to have an introductory call at your convenience (meeting in-person doesn’t seem sensible given the current circumstances!).

I would like to stress that this is not a letter we send out to many property owners. We do not make contact without having first performed an initial appraisal and determined that we can produce an outcome that is advantageous for the property owner, ourselves, and the local community.

In order to arrange a time to speak, or ask any questions at all, feel free to contact me at any time on my office number [xxx], my mobile [xxx] or via email at [xxx].

I look forward to hearing from you, all the best in the meantime,

[Benten]

22s said:

Absolutely perfect, thanks.