Writing an offer letter is a relatively quick and personal real estate tip for buyers that goes some way to getting your dream home. In a crowded real estate market, writing an offer letter will make you stand out from other potential buyers. While some prefer to forgo this part of the process, deeming it unnecessary or because they may not know how to write one, it’s fairly straightforward. Keep these tips in mind to create a compelling offer letter.
Clearly outline information
Before writing an offer letter, make sure that you already have all the information you need on hand, such as the price you intend to offer, the down payment you’re willing to make, your proposed closing date, and how you’d like to handle any contingencies that may crop up related to your purchase. This way, you won’t have to scramble for additional information and you can devote the time and effort you need to write a good offer letter.
Check out successful samples
If you’re not sure about how to format an offer letter, look online for well-written offer letters. Some successful home buyers have generously shared the offer letters that convinced sellers to choose them. See how these letters are written and structured, and take note of everything you should include in your own letter.
Make a personal connection
Sometimes the personal touch works best. Address the seller using their first name and take the time to write an offer letter using old-fashioned pen and paper. Make sure that your penmanship is legible and that there are no erasures.
Tell the seller a few pertinent facts about yourself and mention why you’d like to buy their house. Some buyers even include a picture of themselves and their family. Don’t be afraid to tell a story. Let the seller know how much their home means to you.
If you feel like the seller’s home needs major renovations, it’s best to leave these details out. The seller might not like the idea of anyone making drastic changes to their beloved home. There’s no need to mention that you’re thinking of converting one of the bedrooms into a home office, or that you think the basement needs to be upgraded. Focus on the positive aspects of the seller’s home and omit any comments that may be taken negatively.
Be concise and specific
Let the seller know what drew you to their home and what makes their residence stand out compared to other houses in the area. Mention their airy living room, or their large backyard. But don’t get carried away. Remember, there’s no need to write an essay. A short and concise letter is better than a long and rambling one. Highlight the home details that struck you the most, or the features that you most love.
Check your grammar
Make sure that your offer letter is free of spelling and grammatical errors. Poorly written letters are unprofessional and could have a negative impact on how you are perceived.
Proofread your offer letter carefully and have your real estate agent read it as well, so that you can benefit from another pair of eyes.
Assure the seller
You’ll want the seller to know that you’re a serious buyer. You can show this with a few well-chosen sentences regarding the deposit or down payment amount you’re willing to make. If you have good credit, don’t hesitate to say so. If you’ve already been approved for a mortgage by a reputable lender, you can also mention this fact.
Give the seller options
Let the seller know which things are negotiable, such as a flexible closing date. When it comes to negotiations, remember to be honest and respectful. If you’re trying to negotiate for a slightly lower price, make sure to have good reasons for doing so.
Before you end your letter, make sure to reiterate that you’re genuinely interested in buying the seller’s home and that you’re ready to make a fair offer. You can also express your gratitude to the seller for setting aside the time to consider your offer.
Don’t forget to sign your letter. A personalized letter will leave a lasting impression and elevate you above other would-be buyers.
Looking for more real estate advice for buyers? Our professional team of experts is here to help you. Contact RE/MAX Direct now at 610.430.8100 or send us an email at remaxdirectwc(at)gmail(dotted)com.