Heads up, buyers! In a seller’s market you’re going to (potentially) need to compete for that dream house you’re after. One way to win over the homeowners is to write an offer letter. These can often make or break a sale, regardless of the finances involved. If you’ve never written an offer letter before, this article breaks down what you should and shouldn’t say.
Don’t talk about changes; Do compliment
There’s no faster way to have your sale turned down than by stating what you can’t wait to change inside (or outside) the house if it becomes your new home. What if the owners picked that ugly carpet because they loved it? What if they had a blast on that kitchen reno project? These can very easily offend the homeowners. Instead, focus on the positives of the house. Did you love the paint color in the master? Tell them. Does it have a great big fenced in backyard? Tell them it’s an item on your wishlist.
Don’t say “I’d do anything”; Do state your seriousness
The moment you mention your willingness to “do anything” you lose your negotiating power. While you may really want the house, it’s most likely an inaccurate statement to make. Additionally, don’t mention how quickly you need to close. This creates an added pressure to the homeowners Instead, make sure to voice your seriousness and intentionality to the sellers. Be sincere and convey your emotions as to what life for you would look like in this house if granted the opportunity to move in.
Don’t make it long; Do keep it short
If you’re writing an offer letter, think of how many other buyers are also writing offer letters. Each one is going to state why that particular family wants the house and you want to make sure to captivate the seller. There’s no need to give them a synopsis on your entire life thus far, just highlight a few key reasons as to what this property means to you. Keep your letter short and sweet. Make sure it stays under a page and have someone proofread the letter before submitting.
Did your offer letter make or break your purchase? Tell us what worked best for you!