In a competitive market, an offer letter can help you and your family stand out from other potential buyers in a bid to win a home. With the right letter, you can make an emotional plea that could sway a seller to choose you over others. If you are in the process of drafting an offer letter, here are some tips to help you win over the seller.
Stress What You Like About the Home
Chances are, the seller has an emotional connection to his or her home. You can take advantage of that connection by stressing what you and your family like about the home. For instance, if you like the kitchen because it is large and you envision spending quality time with your family in it, include it in your letter.
While including what you like about the home is important, try to avoid including what you do not like about the home. By doing this, you run the risk of alienating the seller. In addition to avoiding criticisms of the home, you also need to skip out on sharing any remodeling plans you have with the seller. Remember, he or she might have an emotional connection with the home and the idea of you turning a child's bedroom into a home gym might prove too much for him or her.
Keep It Simple and Short
If there are multiple bids for the home you want to buy, those competing against you most likely have thought of writing offer letters, too. The seller could be inundated with letters. As a result, he or she could make the decision to skip the letters and go for the largest bid. If your bid fell short, this could mean you losing out on the home.
To help your letter stand out from the others, keep it simple and short. Although it is important to effectively plead your case, you do not want to run the risk of boring the seller. Worst yet, if your letter is too long, you could inadvertently say something that turns off the seller.
Work with your real estate agent to craft the perfect offer letter. The agent can draw on his or her experience to help you identify specific details that could help sway the seller in your direction. He or she can also help you find other ways to make your bid stand out to the seller.