Offer letter

ps2659

Can anyone help I am about to make an offer on a bungalow and want to do so by letter to the selling agents and the owner, I read on this forum some time ago a letter that someone posted and I would like to use it as a template, I have tried the search option but unable to find it.
Thanks

chickmug

Don't get too bogged down with thinking there must be a 'best way to do it'. Bear in mind nearly all offers are made by phone not by letter. If you want to stick to written email it as letters take too long. So if you ring bear in mind: -

Do NOT from any emotional attachment to the seller or the agent.

Do not waffle when making the offer so thus NOT giving away your hand.

Always go in very very low. Experience shows me, time after time, those that start very very low end up paying less than those who try and make a fairer offer.

So go in low and if you do a deal great but if not have the courage to walk away as there will usually be another seller who is so desperate that you will get there, with a bargain, but have patience.

Remember the agent will try and charm you or bully you so keep very very focussed.


But if you insist on written just keep it to:

1) Heading (the property).

2) Amount you are offering.

3) Say your solicitors have been chosen (but don't say the name of the firm) and ready to start work once instructed but hoping it is NOT one of the notoriously slow ones. So maybe a thought to say if this firm were to be a problem you are willing to consider an alternative.

4) Amount of money you have and proof.

5) You will only want the valuation survey and not a full structural survey would help.

6) You are happy to aim to complete in the time frame to suit the seller.

7) If you have no need to sell explain the reasons why. Like in rented or sold and contracts already exchanged.

westv

chickmug wrote: »

Always go in very very low. Experience shows me, time after time, those that start very very low end up paying less than those who try and make a fairer offer.

But so low that the EA and vendor think you're extracting the urine.

chickmug

westv wrote: »

But so low that the EA and vendor think you're extracting the urine.

Did I say that? If you take some of the advice, on this forum, you will get sellers and agents think you are taking the p*** especially if it is a random "offer 25% below" without any justification.

If you read some of my other recent posts copied here: -

---

One point you need to be aware of is how the agent and the seller may see you if you do try and negotiate down.

Even if you have already agreed at a sensible/acceptable price you could be seen as unreliable and someone who may pull out if you find a better bargain elsewhere. So the seller may feel they are better off finding a new buyer - one who hasn't felt they were paying too much.

---

So making offers really is a case of doing your homework or as some of the lazier/luckier posters expect is others to do it for them;)

mjmal51

I think this was the template posted before and can be tailored to suit

[FONT=&quot]To whom it may concern[/FONT][FONT=&quot][/FONT]

[FONT=&quot]Re: Address of Property[/FONT][FONT=&quot][/FONT]

[FONT=&quot]
[/FONT][FONT=&quot]Further to our viewings on [dates], we are pleased to be in a position to offer to purchase the freehold/ leasehold [delete as appropriate] on the above property [/FONT][FONT=&quot]for[/FONT][FONT=&quot] £[offer in numerical format] ([offer in words] pounds sterling). This offer is on the basis that the property is taken off the market immediately and is subject to survey and valuation.[/FONT][FONT=&quot]

[/FONT][FONT=&quot]Our offer reflects the poor condition of the internal/ external [delete as appropriate] fabric of the building, the falling property market and our strong position as prospective purchasers. Given that [address] will be vacant over the winter months/ is vacant at present [if relevant], I trust our desire [/FONT][FONT=&quot]for[/FONT][FONT=&quot] a swift completion will recommend this offer to the vendor.[/FONT][FONT=&quot]

[/FONT][FONT=&quot]Stagnant Property Market[/FONT][FONT=&quot]
[/FONT][FONT=&quot]As you are no doubt aware property prices have fallen substantially in recent months and continue to do so. [Now specify prices of properties in the street that have sold, and the large number still on the market in the vicinity].[/FONT][FONT=&quot]

[/FONT][FONT=&quot]Essential Repair Works[/FONT][FONT=&quot]
[/FONT][FONT=&quot][address][/FONT][FONT=&quot] is in a poor state of repair/ poor decorative order [delete as appropriate] and requires substantial capital input to bring it up to a habitable standard. Discussions with a local builder suggest that it will cost at least £x to replace the windows/ re-plaster/ fit a basic kitchen/ install central heating [delete as appropriate].[/FONT][FONT=&quot]

[/FONT][FONT=&quot]Position of Purchasers[/FONT][FONT=&quot]
[/FONT][FONT=&quot]We confirm that we are first-time buyers and thus in a chain-free position. Our finances are in place and we have instructed a local solicitor to act on our behalf in any property purchase. As a result we would be able to complete a sale quickly.[/FONT][FONT=&quot]

[/FONT][FONT=&quot]Should this offer be acceptable, our conveyancer’s contact details are[/FONT][FONT=&quot]
[/FONT][FONT=&quot]Name[/FONT][FONT=&quot]
[/FONT][FONT=&quot]Address[/FONT][FONT=&quot]

[/FONT][FONT=&quot][If you have any questions relating to the condition or contents of the property ask them here][/FONT][FONT=&quot]. I look forward to hearing from you at your earliest opportunity.[/FONT][FONT=&quot][/FONT]

[FONT=&quot]Yours faithfully[/FONT][FONT=&quot][/FONT]

[FONT=&quot] [/FONT]

[FONT=&quot]Your full names[/FONT][FONT=&quot]"[/FONT][FONT=&quot][/FONT]

chickmug

mjmal51 wrote: »

I think this was the template posted before and can be tailored to suit

[FONT=&quot]To whom it may concern[/FONT]

[FONT=&quot]Re: Address of Property[/FONT]

[FONT=&quot]Further to our viewings on [dates], we are pleased to be in a position to offer to purchase the freehold/ leasehold [delete as appropriate] on the above property [/FONT][FONT=&quot]for[/FONT][FONT=&quot] £[offer in numerical format] ([offer in words] pounds sterling). This offer is on the basis that the property is taken off the market immediately and is subject to survey and valuation.[/FONT]

[FONT=&quot]Our offer reflects the poor condition of the internal/ external [delete as appropriate] fabric of the building, the falling property market and our strong position as prospective purchasers. Given that [address] will be vacant over the winter months/ is vacant at present [if relevant], I trust our desire [/FONT][FONT=&quot]for[/FONT][FONT=&quot] a swift completion will recommend this offer to the vendor.[/FONT]

[FONT=&quot]Stagnant Property Market[/FONT]
[FONT=&quot]As you are no doubt aware property prices have fallen substantially in recent months and continue to do so. [Now specify prices of properties in the street that have sold, and the large number still on the market in the vicinity].[/FONT]

[FONT=&quot]Essential Repair Works[/FONT]
[FONT=&quot][address][/FONT][FONT=&quot] is in a poor state of repair/ poor decorative order [delete as appropriate] and requires substantial capital input to bring it up to a habitable standard. Discussions with a local builder suggest that it will cost at least £x to replace the windows/ re-plaster/ fit a basic kitchen/ install central heating [delete as appropriate].[/FONT]

[FONT=&quot]Position of Purchasers[/FONT]
[FONT=&quot]We confirm that we are first-time buyers and thus in a chain-free position. Our finances are in place and we have instructed a local solicitor to act on our behalf in any property purchase. As a result we would be able to complete a sale quickly.[/FONT]

[FONT=&quot]Should this offer be acceptable, our conveyancer’s contact details are[/FONT]
[FONT=&quot]Name[/FONT]
[FONT=&quot]Address[/FONT]

[FONT=&quot][If you have any questions relating to the condition or contents of the property ask them here][/FONT][FONT=&quot]. I look forward to hearing from you at your earliest opportunity.[/FONT]

[FONT=&quot]Yours faithfully[/FONT]

[FONT=&quot]Your full names[/FONT][FONT=&quot]"[/FONT]

I think this is an excellent letter but from an agents point of view it is NEVER in the sellers best interests to agree to the bit I have highlighted in red text. So IMO you need to omit this and have this as part of a conversation with the agent as opposed to being 'Hardball' - like it or leave it attitude.

Buying and selling is two parties by mutual consent.

westv

chickmug wrote: »

So making offers really is a case of doing your homework or as some of the lazier/luckier posters expect is others to do it for them;)

Work?! You mean we have to work?! :eek::D
When I come to buy again one thing I will use as part of the process is the Hometrack "sales to asking price ratio" for the area I'm looking at.

chickmug

westv wrote: »

Work?! You mean we have to work?! :eek::D
When I come to buy again one thing I will use as part of the process is the Hometrack "sales to asking price ratio" for the area I'm looking at.

Can you still get Hometrack detailed info like this?

westv

chickmug wrote: »

Can you still get Hometrack detailed info like this?

Well the info is there. How accurate it is is another matter. Examples

SE15 average sale price 91% of asking
CM1 average sale price 94% of asking
SS12 average sale price 88% of asking

chickmug

westv wrote: »

Well the info is there. How accurate it is is another matter. Examples

SE15 average sale price 91% of asking
CM1 average sale price 94% of asking
SS12 average sale price 88% of asking

Thanks for that - they seem to have tweaked what they include/don't include because at one time you could get a cheap specific valuation figure for a couple of quid but now it costs a lot more at £19.95.

bitsandpieces

Probably stating the obvious - but only agree not to have a full survey (as opposed to just a valuation) if you don't think this is needed. Depends on age, condition, location etc of bungalow.