In a competitive market like the Seattle area, where inventory is low and demand is high, it can be hard competing against other buyers. Bidding wars are common. Prospective buyers will waive inspections, offer extra earnest money, and provide favorable move out terms.
Fortunately for you, many prospective buyers miss out on one of the best ways to win in a competitive market – the heartfelt cover letter.
While buying a home is certainly a numbers game filled with facts, figures, and algorithms, it’s also about people. Most likely you won’t ever meet the seller, especially before they’ve accepted your offer. But, a personalized offer letter can help you connect with them on a human level.
4 Elements of a Well-Written Offer Letter
Refer to Specifics Attributes Throughout the Home
Even the humblest among us like to be praised for the things in which we take great pride. Our homes are typically one of those things. In your offer letter, take the time to acknowledge the home’s attributes. This might include the finely manicured garden, the tile backsplash in the kitchen or the welcoming front entryway. Referencing specifics like this not only makes the current owner feel good about their home, it shows them you appreciate the space they’ve created.
Share Personal Details
Let the seller get to know you. Details like where you’re originally from and why you’re looking for a home in the area give them a sense of who you are. Share a bit about your hobbies and passions. You may want to give details about your professional career or strong ties to the community. The idea is to introduce yourself, so the seller considers more than just the dollar amount when making their decision.
Explain Why This is the Home for You
Share a bit about why this home appeals to you. Is the neighborhood close to your work? Does it give you easy access to running paths or hiking trails? Do you want a big yard or no yard at all?
Paint Your Future
Finally, paint your future for the seller. How do you want to use the home and grow in the home? Do you plan to start a family? Will the house serve as your home base for grand adventures throughout the world? Are you looking forward to dinner parties with friends or a quiet escape to relax at the end of the day? Let the seller imagine your future with you.
Need more tips on how to get ahead in this competitive market? Talk to Dan today.