Some buyers may even include pictures of the kids or even remembrances of a similar house in times gone by or whatever. The point of the letter is to attempt to gain some additional leverage.
But will they work? I don't know but, if a buyer is willing to pen the letter, why not try if they really want a specific property?
Some sellers may be so emotionally attached to their home that they may be more receptive knowing it is being lived in by a buyer who wants it so badly.
Key Point: A letter from a prospective buyer, while maybe an attempt at the seller's heartstrings, will not make up for a poorly prepared, poorly reasoned offer.
If a prospective buyer is going to include a personal appeal with their offer it is still critical to make sure the offer is:
- Competitive. After all, it is almost
always about price. Read "Your Offer is more than price."
- Supported. Support refers to either a mortgage pre-approval letter or proof of funds letter being available. Sellers must have faith a buyer has the ability to close before accepting any offer.
- Clean. By clean I am referring to including the fewest contingencies possible. Here in Florida, property inspection and financing/appraisal contingencies are usually expected.
- Timely. The usual time frame for closings in Florida with a mortgage is about 45 days. Some lenders may be able to pull it off in 30 days. Cash offers can be closed in days or weeks.
So, will a letter to the seller help a buyer get their offer accepted? Perhaps, if all the above components of a well written competitive offer accompanies the letter.
Considering buying a home in Viera or Melbourne, Florida? Call me at 321-693-3850 if I can help.