Have you had a hard time landing your dream home in a hot market? If you’ve been through the bidding wars and have come up short, here’s a tool that might give you an edge in the next round of offers.
If you’ve ever experienced the disappointment of losing out on a home in a seller’s market, you want to do everything possible to keep it from happening again. One tactic many buyers overlook is the “love letter” written to sellers about their home.
Rationally, you might expect the highest offer will always win the home, but there are a host of other factors involved. Some are emotional. Some sellers want to see their home go to a buyer they not only trust to close the deal, but they also like personally.
Want to give yourself an edge? Craft a short “love letter” to go with your offer. Here are the basics you’ll want to cover in your letter:
1. Explain how much you like their home. Don’t go overboard, but prove to them you know the home and you truly appreciate their taste and the unique characteristics of the house. This might touch on improvements they’ve made or other aesthetic details.
2. Spare them all the things you might want to change. What you say is as important as what you don’t say. Don’t tell them you’re going to gut the place as soon as you close, add a second story, or rip out their garden for a pool.
3. Demonstrate you’re qualified to close. Make them feel confident in your qualifications as a buyer. Show them you’re pre-qualified for a loan, are buying cash, or have other reasons why you’ll be a hassle-free buyer.
4. Be humble and positive. Don’t give them a sob story about the four other homes you’ve lost out on. Praise the neighborhood and make them feel as though you would be positively honored to be chosen as the next owner of their home.
5. Check the letter for typos. Read it out loud. Listen for clunky sentences or awkward repetition. Have someone proof it for mistakes. Their confidence in your attention to detail is important.
A good agent should be able to tell you if the letter sounds like an honest appeal. Have it included with your offer as a cover letter.
Need help finding a home worth a love letter? Get in touch today: Kevin and Jennifer Hanley, REALTORS 904-422-7626 http://www.HanleyHomeTeam.com