I have heard that when placing an offer on a home it is a good idea to include a letter to the homeowner explaining why you want to buy their home. That it may give you more leverage as to whether or not your offer is accepted. Is there any truth to this?
Posted in Renting & Real Estate
In one in a million cases, it may matter, but most are looking for the highest price with the least amount of BS. What really counts is laying down a fat deposit so they know you mean business.
Hey, be careful, the purchase contract is supposed to be the only contract between you and the sellers, if something goes wrong with the deal, an ornery realtor might say you were trying to short them on their commission.
I would say, don’t bother with the letter, apart from the potential liability, it probably won’t sway the seller much, unless they alreday know you
I never heard of it, but if I was selling my home and I had 2 similar offers, if I liked one person more I’d go with them over the other—so I guess I’m saying…IT CAN’T HURT!
Is it For Sale By Owner? If it’s listed then get your own Realtor to help you with the negotiation process. You can use the listing Agent, but keep in mind that they have to keep Both of your interest in mind, this can be good or bad. If you’re working with the listing agent, they are likely to push for you to get it as they can get both sides of the commission. On the other hand, your own Agent will be completely loyal to you only. I don’t think a letter will do much for you as the bottom line is the right price, and the least amount of hassle in regards to financing. Never-mind a huge Earnest money payment, as there are a hundred ways to get out of it (not many people know this).
Most homeowners could care less what/why you want the property. It can’t hurt to write them a letter, but it probably won’t make much difference….good luck!
Read this scenario then answer the question below:
You are selling your house for $300,000.00
Buyer # 1 is a wonderful family an offers $260,000.00 and attached a very nice letter that talks about the kids, dog and even the gold fish.
Buyer # 2 He is an idiot but offers $295,000.00
Who are you going to sell the house to?
Forget the letter.
Good Luck