Have you been passed up, and not been selected on a home in a seller’s market?
While it may surprise you, your odds of being accepted on buying a home will increase by writing a “Love Letter” to the sellers about their home. Who doesn’t love a “Love Letter”? Sellers especially love “Love Letters”!
A sincere note to the seller has pushed sellers to accept lower offers, even though there were higher offers and more money on the table.
The most profitable offer is viewed to always win the home, however, many fail to remember the emotional factor. Sellers want to see their home go to a buyer that they trust. Along with this, they want to see a buyer that will grow into and enjoy the house.
Recently, a young couple wrote a “Love Letter” to a seller and expressed how multiple generations of their family had grown up in the Prescott area—then shared how excited they were to start a family in the same neighborhood. Additionally, they shared how they would be working in Prescott and how they had been saving for years to make this purchase. And, their offer was accepted, even though there were two additional offers for more money!
Tips for Writing a “Love Letter”
Your goal with writing a “Love Letter” is to give yourself a competitive edge against the competition. Here are the basics you’ll want to cover:
- 1. Explain how much you like their home. Please don’t go overboard, but prove to them you know the home, and you genuinely appreciate their taste and the unique characteristics of the house. Highlight details or improvements that they have made.
- 2. Leave out all of the things you might want to change. The seller may have some emotional attachment to this home. Don’t tell them you’re going to gut the place or rip out their garden.
- 3. Demonstrate you’re qualified to close. Make the seller feel confident in your qualifications as a buyer. Show that you will be a hassle-free buyer by letting them know you’re pre-qualified for a loan or are buying with cash.
- 4. Be humble and positive. Don’t share about the four other homes you’ve lost. Instead, praise the neighborhood and make them feel as though you would be honored to be chosen as the next owner of their home.
- 5. Get personal. Let the sellers get to know who you are on a personal level. You don’t need to be an open book, but let them know who they are selling to.
- 6. 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 essential.
The right 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? We can help.