The Age of Offer Letters

  • June 29, 2015

Getting your offer on a home accepted is far from a sure thing these days. So how do you stand out from the others vying for the same property? Lately, including a personal letter with your formal offer can help home sellers pick through the crowd and sell their home to the borrower they feel the home would best suit.
 
Make it personal. Are you a young couple hoping to start a family soon? Are you moving because you were just hired for your dream job? Give specifics. Explain why you love the property and how it will help you reach your goal in the future.
 
When putting an offer on a property, you are a number, a bank account, a transaction. Including an offer letter provides greater insight into the person you are and why you have decided to dive into the tumultuous housing market. As a homeowner, the seller is most likely attached to their home in some way and wants to make sure it goes to good owners in the future. While personal letters do not guarantee your offer will be accepted, it is a unique way to show you care about the property enough to take the extra time.
 
A few tips to getting your letter just right:
·  Do not spell out your plans for tearing down and remodeling. That generally does not sit well with a seller.
·  Get to the point. Avoid a long, drawn out letter that rambles on. A seller has a lot going on and would appreciate it more if you just tell them why you feel this is the home for you.
·  Avoid whining or complaining about the process to the seller. They are going through the same steps and will most likely veer away from entering the process with someone who voices their frustrations rather than just dealing with the task at hand and making the most of it.
 
Your offer letter should reflect you at your best so don’t forget to proofread it, edit, and make adjustments before sending it off.

Latest Tweets

© CMG Financial, All Rights Reserved. CMG Financial is a registered trade name of CMG Mortgage, Inc., NMLS# 1820 in most, but not all states. CMG Mortgage Inc. is an equal opportunity lender, licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act No. 4150025. Offer of credit is subject to credit approval. For more information on our company, please visit www.cmgfi.com. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/licensing and www.nmlsconsumeraccess.org.