Writing A Letter To Seller May Help You Win Bidding War For Home
Who knew that snagging your home-sweet-home could start with penning a sweet letter? Sure, money talks but so, too, does a note that gives voice to your dream of owning a particular property.
According to The Wall Street Journal, sending a heartfelt letter to a seller (along with a realistic monetary offer, of course) boosts your chances of winning a bidding war by 52.2%. An analysis of 14,000 mortgage offers written by agents at real estate brokerage Redfin revealed the efficacy of the written word.
Moving in could start with writing a moving letter
Emotions come into play when it comes to selling a home. The seller wants to believe that a new owner will love and care for the house as much as they did. But The Wall Street Journal reported that emotions aren’t the only influencer. The report stated that,
“In addition to flattering a seller’s ego — or assuring him or her the home will be cared for — a letter can also signal that the buyer is serious, which translates into a willingness to follow through even if hurdles come up in the sales process.”
How to get a seller to buy into your pitch
A seller might be more compelled to accept your offer instead of those from other potential buyers if they feel they can identify with you and the plans you have for living in their home. First, when writing your pitch letter, show genuine emotion and share how much you love the house, whether you’re newlyweds or retirees. Demonstrating that you’re serious about creating a life in the home can be very persuasive.
Second, leave any thoughts of remodeling out of the letter. Investopedia suggests that renovation plans could signal to the seller that you’re not entirely happy with the home as is, and that you’re already thinking of destroying something they feel emotionally attached to.
Third, Redfin suggests you might want to consider typing your letter or penning a handwritten note and mailing it to the seller; in this way, your message could stand out from the many electronic communications such as texts and emails the seller could be receiving.
So go ahead, let the seller know your heart is in the right place. You just might find yourself moving into your new place in no time flat.