Can you refuse to sell your home if you do not like the would-be buyer?
Beverley is downsizing. Wants to sell the big house, and build a new house next door. Mike doesn’t want to sell the big house to just anybody. Can she refuse to sell if she doesn’t like the buyer? And a discussion about property values in Daylesford.
Beverley in Daylesford:
Good morning. I’m just ringing with a question. It’s not about a fence, but almost. We’ve got a property that we had subdivided. So the subdivision has got a big house on it and then we’re going to build a little house on the smaller block that we have subdivided off. I intend to sell the big house.
DW:
Are you going to look up at the big house or down at the little house?
Beverley:
Across. Actually down a bit, and I’m going to sell the house myself; just have a go at doing that.
Jon:
So you’re going to build a new house, move out of your existing house into the new one and then sell the old one?
Beverley:
No; we’re going to sell the old one, move out and then build a new one.
Jon:
And then build a new one next door. You will sell the old house before you’ve built the new house?
Beverley:
Yes; that’s right.
Jon:
So you’re going to move twice. So anyway, yes, your question?
Beverley:
The question is, if I go to sell the house and I don’t like the person, do I have to sell it to them?
DW:
No.
Beverley:
So I could basically say if Jon Faine came and bought my house, wanted to buy my house and I say I do not like you, you can’t have it?
Jon:
No; don’t want you – noisy neighbours – go away.
DW:
You just refuse to accept their offer, Beverley.
Beverley:
I do not have to give them a reason?
DW:
No, you don’t. Just ‘thanks – look, I’ll think about it – no, I’ve changed my mind – not interested.’ You can leave it on the market for sale.
Jon:
But if you have an auction?
Beverley:
No; I’m not having an auction.
Jon:
Okay, because you lose that capacity with an auction, don’t you, David?
DW:
Well an auction is more about extracting the best possible price.
Jon:
On the day.
DW:
On the day; and the difficulty is, if you knock back the highest bidder, where do you go from there?
Jon:
But if you want to choose who’s going to be, eventually and ultimately, your next door neighbour – because you’re selling to them – you can’t do it by auction?
DW:
No you couldn’t do it by auction and, if you were going to use an agent to follow Beverley’s process, you get into even more complications because the agent earns commission by getting someone who is willing to buy.
Jon:
And they’ll get cranky, too.
DW:
Absolutely; not that rat bag Beverley.
Beverley:
That’s right.
DW:
It is all up to you, Beverley. You have the right to choose – sorry, you don’t have the right to choose who your neighbours are going to be, but you have the right to not accept offers.
Beverley:
Okay; terrific, thank you.
Jon:
What’s the market like at the moment up there, Beverley?
Beverley:
Anything that’s not nailed down is sold; well, is for sale.
Jon:
Really? Up around Daylesford?
DW:
Is for sale or is sold?
Beverley:
For sale. I think different properties sell at different rates but there are lots of sales.
Jon:
Okay; so in other words, there’s a lot of supply but not enough demand.
Beverley:
Yes.
Jon:
Not enough buyers for the sellers.
Beverley:
Yes.
Jon:
Are you in the town or on the fringe?
Beverley:
On the fringe.
Jon:
Okay; good luck.