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how the heck do I write this?

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firebirdgold

firebirdgold

Ideal_Rock
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Nov 30, 2005
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So we found our dream house and our realtor says we(I) should write a cover letter for our offer. I guess the idea is to make a good impression and to make them want to sell to us. They''re not terribly motivated sellers and their house is gorgeous and getting a lot of interest even in a tepid market.

I have no idea how to write this kind of cover letter. How do I introduce ourselves? How much should I say? Should I be as enthused as I feel? (It''s not like we''re lowballing the price... we''re offering full asking price with no contingencies other than inspection and a few city planning things.)

I can get about as far as "Dear so and so,..." That''s it.
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HELP!
 
Not sure I can help you.

But, you might make sure your RE agent isn't off-loading to you what is traditionally taken on by the agent. As the perhaps old tradition goes, so I'm told, the agent for the buyer requests to present the offer, ostensibly to do what you say...make them want to accept you, and not somebody else. It means your agent needs to take the time out of their schedule to do this. I'm told frequently the seller or seller's agent don't want this to happen, so it doesn't. But, I hear it's good form for your side to offer it.

Otherwise...I think I see what you mean. If you appear too anxious, this may not be good.

After you ask your RE about presenting him or herself...maybe you need a clearer idea from your agent what it is they mean? Your agent is supposed to be able to help you with negotiation issues, too.
 
Well, I gather it''s supposed to be a personal introduction. Who we are, what kind of people we are, what we like about the house... etc...
I''ve heard about people getting their offers accepted because their letter talked about how they wanted to raise their kids in the house despite having a lower offering.

I can certainly talk about the house and such... I just can''t seem to introduce ourselves.
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Date: 4/30/2007 5:11:06 PM
Author: IndieJones
I've heard about people getting their offers accepted because their letter talked about how they wanted to raise their kids in the house despite having a lower offering.

I can certainly talk about the house and such... I just can't seem to introduce ourselves.
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Talking about the house & such...why you like it...these are the reasons they will tell you back about why you should pay more. And you will have gifted it to them.

Otherwise, in principle, yes...help them visualize you...so they can more easily sell it to an understood set of people. Just be descriptive. It's the only info, that I shouid imagine wouldn't "cost you."

Of course, you could keep it pretty much just desciptive, and not analytic.

How old are you, where are you from, if you're not natively from there, and what brought you to that part of town, what do you want to do, what are your favorite baseball teams, and what is your favorite restaurant in the area. Are you philanthropic...to who & why?

Maybe that will help. Or, have your RE speak this for you. Did you get my earlier point on this?
 
I wish deeJay would chime in. We sort of had to do something similar, we had to give a reason why we wanted our house.

I would say who you are; that you are excited to move to that neighborhood. Why you are choosing the neighborhood; your future plans. Maybe say that you would love your kids to grow up in such a lovely house and wonderful neighborhood; that there is a sense of community. People love the kid thing and that you really love the house. Talk about giving the house loving care; that you will do the upkeep. Neighbors don't want people who move into their neighborhood to neglect the home. That probably would help noting that.

I wouldn't talk about remodeling or renovations because when we were looking at our house the owners got hurt so maybe saying you think you furniture would go perfectly with the current decor. Also talk about the house as if it belong to a friend and mention the points you love. Hope that helps.
 
Indie, first of all please tell me your offer (full price with only reasonable contingencies!) is not being delayed in the presentation because of this letter! Especially with a property that has garnered significant interest in a tepid market, at you put it.

These letters are an interesting concept in the real estate market. I have *heard* of people selling their house to someone that they like better than other potential buyers for various reasons, but have never come across this situation in one of my own deals.

My advice would be to first address the home and why it is "perfect" for you. By doing that you can incorporate semi-personal details about yourself that will make the sellers feel an affinity for you. E.g., "We are newly married and would very much like to raise our family in this beautiful home." (Do you know anything about the sellers? This children comment could backfire if they were unwilling or unable to have any of their own.) Don't mention politics or religion unless you KNOW how the message will be received. Focus your comments on the house and the property as much as you can. ("We would really enjoy sitting on the beautiful patio in the warm summer evenings surrounded by the beautiful rose bushes.") Basically, my advice would be to keep it as generic as possible so as to avoid a possible affront, but still be honest.

And really, do YOU think you need a letter with a full price low contingency offer? Unless your realtor has some COMEPLLING reason for going this route I would be included to make this a business deal and not throw all sorts of personal stuff into it.

ETA: Skippy, we must have been typing at the same time! And I agree wholeheartedly with the idea of not mentioning any changes that you might want to make to the house in the future.
 
Dee Jay! Good idea on the kids. The people we were buying from had kids. I guess we sort of were going through something similar when we bought our house. I am glad you chimed in; I am sure you have seen it all. heeheee.
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LOL Skippy, I haven''t seen it *all* but I''ve seen *most*!

Indie - if you want to post the body of the letter on here I''ll be happy to look it over for you as soon as I get home this evening.
 
Dear So and So,
My husband, ------, and I recently married and we have been looking forward to moving to ------ for a while. ----- is an alumnus of the University of ---- and has always talked of how much he loved the town. We also wanted to move closer to his family in ------. The university of ----- has created a research position for him and he''ll be able to take time to work on his new technical book. I''ve been accepted to the University of ---- as a computer science major and will be starting classes this fall at the same department as him. This move will present a complete change in our lives. We currently commute by car for 2 hours a day, and ----- has an extremely high-stress job.
So we''ve been looking for just the perfect house. We live in ------, NM. and I''ve been only able to look at houses online until this past weekend when I flew out for a quick visit. You house seemed on paper to be a good match. It has privacy, enough rooms for our home offices and visiting family, a yard for our couch potato dog, a garden to fuss over, and it''s a nice bike ride to the University. (we hope our cars collect dust!) Imagine my surprise when I walked in the door of your home and discovered our dream home! I never expected to find just the house we had always talked about!
We always wanted a house with a slight Japanese feel, lots of warm woodwork and detail yet still modern and clean in line and design. Your house has wonderfully big windows that frame the view and brings the feel of the outdoors inside. We love all the skylights and the lovely wood ceilings. We also had talked about a sheltered courtyard for dining in the summer and having barbecue parties and your courtyard is just perfect and so conveniently located. I just love the little office just off the living room with the glass doors. It''s perfect for some quiet time while not being isolated.
The garden is simply wonderful! No matter what window you look out of, all you see are trees which is what we wanted yet never thought we''d find in a house from which we could also bike to work. We had assumed we''d have a big landscaping job ahead of us in our new home, but not with your house! The garden already has that japanese aesthetic with a path to walk along and places to stop and admire the garden. It even has a place to sit besides mossy boulders.
Not only is your house ideal for us in location, grounds, and style.. but it already has all those little details I had planned to add. I always wanted a pull-out pantry next to the stove for spices and sauces. We also planned to add a little laptop workstation in a living area so one of us can work and the other read yet still be near each other, a station that could be hidden when guests come over. The only change we would really want to make is to add a hot-tub to that nice deck outside the master bath. The house is the most inviting and cozy house I have ever been in. It feels like the perfect place to come home to after a long day or a short one. We will love and treasure this home for years to come.
Thank you for considering our offer,
----- ---- and --- -----
 
Oh, and how could be effusive add to the price? Sellers can't up their asking price in negotiation. Can they? The impression they're going to get is correct... we're not going to quibble over a few thousand dollars just for the sake of bargaining. This house is just too darn perfect for us!

With the offer they'll also get another impression, that we're nobody's fools. We're going to get an extremely thorough inspection with several options people usually don't bother with, plus we want more time than usual to look over the inspection reports.
We don't expect to find much. This house looks insanely well maintained. Even the gutter drains into pipes that lead away from the house. The woodwork and paint are in perfect condition. It has what looks like french drains around the foundation. It's got a tile roof! The deck looks like it'll last another 100 years.

Ok Ok. I'm pretty excited about the house. That's why my father the research addict is going to be there for the inspection. (He's already researched the precentage of houses in the area that don't meet the EPA's radon thingy). I feel sorry for the inspector already!
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I''ll defer to DJ. Also, this site agrees.

Still, if some odd problems appear in the inspection, resolvable in specified ways for which a not insignificant cost will remedy the problem...I''m not sure how I see your letter representing the reason they would say they won''t make the repair.
 
I would just state how much you love the house, how you can pictures yourselves in it etc, and the fact that you are making a good offer without contingencies should be quite appealing to them...
 
Indie - I think you have written a wonderful letter! My only suggestion is to take out the part about adding the hot tub.

As for upping the price in the negotiation--absolutely they can. They may roll over in the middle of the night, look at each other, and say, "Geez, if this place is so great we should be asking more for it!" and then counter offer you at higher than current list. Or there could be multiple competing bids, which would raise the price through no action of the sellers.

My advice is to get this offer in as quickly as possible. You don''t want to find out later that you lost the property by being an hour late.
 
I think the key here is that they are UNMOTIVATED sellers. So, if I were an unmotivated seller, I would need a compelling reason to actually sell my house. As a somewhat sentimental woman, if someone wrote me a heartfelt letter saying that they are newlyweds starting their lives together, they will take care of it, they love it the way it is, and that it will be the site of many happy future memories, it might give me the push I need to actually sell it.

It might seem silly, but I can see where your realtor is going with this if you know the seller is unmotivated. I like your letter, but I would try and make it a little more heartfelt. The first paragraph sounds pretty generic, so I would make it flow more, use descriptive words, make someone picture the "scene", etc.

Also, maybe try to kiss a** a little bit more and talk about THEIR sense of style etc, don't make the entire thing about you. Make sure to compliment them and be descriptive like "the gardens in back will be perfect for all the family gatherings we hope to host. I can see everyone relaxing on the gorgeous deck and talking into the night. We really hope that we will experience as much happiness (only if you know it's a happy couple/family selling) in this house as your family." Blah, blah...

This will only work if your letter evokes some sort of sentiment with the current homeowners. So I say, go big or go home!
 
WE once were in a similar situation, but the previous owners wanted to meet all potential buyers.To make it short yes we did go to meet them.Many people did because it was a very nice place.We did get " accepted" so to speak ,but we did not buy it at the end ( they were stuck on price ) So if anyone asked to meet in person again I would not say no , but would do it only ater the finances and all other subjects were removed.
Anyways I am very happy we did not get it because we got even better place after that one.
So stay cool and sorry but I really have no opinion what to write in a letter.Your agent could possibly ask the selling agent for a tip.Surely the selling agent has an idea.
 
i would tell the real estate agent to get a realty check. i would not beg anybody to buy their house or anything else. i would make an offer and they can either accept or decline, it is just that simple. in my opinion, you are just playing into someone''s inflated ego. if they are "unmotivated" they should not have it on the market.
 
Thank you for all your great advice! Based on it I decided not to write a cover letter and told my realtor that I was sure he could manage to convey the vital information: newly-wed, educated, moving to town, job as professor at university, blah ..
When I''ve been a seller I do like to know what sort of people are buying the house and what they''ll use it for. 2nd home, retired couple etc..


So we made the offer this morning! PS pixie dust please!
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PS dust sent to you and fingers crossed.
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Oh poo!!! I am too late...I was going to tell you to write it on the back of two tickets to Hawaii. Or the back of an $100 bill...

Wooooshhhh...hear the dust? I added some glitter to make it prettier.

DKS
 
Thanks Skippy! I''m sooo nervous. It really is our dream home. I just don''t know what to do if they don''t accept it! Although it''s a really good offer, so there''s no reason why they shouldn''t! Even if there is a competing offer at over the asking price, we should still look better with no loan or home selling contingencies.
I wasn''t too keen on how their agent casually slipped into the email conversation about utilities that the house was being shown to yet more people that very minute!

They have until 5pm Pacific time tonight to answer. I''m going to be a nervous wreck by then!
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On a funny side note: one of the houses we looked at just got relisted for $4k less than before. After seeing it my agent called them and politely suggested that they do a little work on it. Like, oh say, making sure buyers can actually get the front door open?

I was really surprised at how awful most of the houses were! They all needed some significant updating and remodeling work. My mil and I went through 12 houses before lunch! (late lunch though) My realtor was pretty impressed.
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I am realy happy that you did not write that letter.I don''t think it is necessary.When we were asked to meet with the selling party we were not sure about that either ( and I did not know about PS then) anyways the reason they wanted to meet potential buyers as we found out later was because they had a house next to it and would be neighbours of the potential buyers.In your case I don''t think I would write any letters.
We do hope you get it.Keep us posted.
 
I feel physically ill. There''s been another offer and there''s a third offer expected. My realtor had me sign a bidding addendum saying I''ll match and exceed by $2k any competing offer up to $8k over the asking price.

I just feel ill.
 
Hang in there, the waiting is the worst. I really hope you get it!!!
 
Thanks! We''re offering cash and the realtor is presenting our offer right now with proof of funds in his hands, so hopefully the other offers are contingent on getting a loan etc...

I''m wondering if I should have authorized up to $12k over asking. I don''t want to pay too much more than fair market value, yet I know that if we have to keep looking we''ll probably end up spending at least 100k more for something with more of a hill to bike up!

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Gosh, bidding wars suck. Well, just think of it this way. . . if you pay more and people really want the house then when you go to sell it chances are others will want it too. I know, it isn''t fun to pay over asking but 10-20K more for the perfect house isn''t much. Hang in there!!! Go for a walk. Best wishes.
 
You were generous and don''t worry they will approach you for more.Their commission is based on the selling price.Sadly I know an agent who does it just so she can make more money.
I really believe that if its to be it will be if not keep looking and you may be surprised how much better you will become.Try to remove all emotions from this transaction.Keep us posted..
 
Indie - Any I've got my fingers crossed for you! Let us know as soon as you hear anything!

Scarleta - I can only speak for myself but I make (pre-tax and before any fees are taken out) a whopping $16.25 on every THOUSAND dollars of a transaction price. Any agent that is doing what you suggest just to up their commission is truly desperate...
 
Thanks I can use all the finger crossings I can get! My realtor said that they responded favorably to our offer and they liked that we were very flexible and accomadating with the closing. However they''re going to wait until they get the third offer and let us know tomorrow at noon pacific.

DH tried to reassure me that if we were meant to get the house we would and that something just as nice would come on the market, after all we have a couple of months. Then he added "But I really want that house! I want it right now!!".
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Very comforting dear.
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Date: 5/1/2007 4:07:06 PM
Author: IndieJones

I''m wondering if I should have authorized up to $12k over asking. I don''t want to pay too much more than fair market value, yet I know that if we have to keep looking we''ll probably end up spending at least 100k more for something with more of a hill to bike up!

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I hear you, and I wish you best of luck.

Not sure if DJ can offer us any informal good advice on ealing with these competitive situations...it''s very difficult.

Warmest regards,
 
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