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Writing a letter to the vendor?
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paye
Posts: 449 Forumite


I put an offer in on a property today and I was thinking of writing a letter to the vendor confirming my offer and explaining my current situation.
As a seller would you mind receiving letters from serious buyers to back up offers or would you just throw it in the bin.
My wife and I really like the house we saw today but there is a possibility that 10 or more people will view the property tomorrow and some may possibly put in offers. I wanted to do something slightly different and write a letter explaining my situation and how I really like the house.
My current situation is I have a mortgage agreed subject to valuation, I've sold my existing property and currently living with mum and dad, with the money already in the bank and I can raise 25% deposit.
Reason I ask this is my mum recently sold her business to someone who just did just that. My mum received some high offers but she went with someone with a slightly lower offer who took the time out to write a letter explaining why they really wanted the business in the first place. I asked my mum why she didn't go with the higher offer she told me that money wasn't everything to her and the person who took the time out to write the letter she felt sorry for them.
As a seller would you mind receiving letters from serious buyers to back up offers or would you just throw it in the bin.
My wife and I really like the house we saw today but there is a possibility that 10 or more people will view the property tomorrow and some may possibly put in offers. I wanted to do something slightly different and write a letter explaining my situation and how I really like the house.
My current situation is I have a mortgage agreed subject to valuation, I've sold my existing property and currently living with mum and dad, with the money already in the bank and I can raise 25% deposit.
Reason I ask this is my mum recently sold her business to someone who just did just that. My mum received some high offers but she went with someone with a slightly lower offer who took the time out to write a letter explaining why they really wanted the business in the first place. I asked my mum why she didn't go with the higher offer she told me that money wasn't everything to her and the person who took the time out to write the letter she felt sorry for them.
Save Save Save:o
SPC 593 paye:o
SPC 593 paye:o
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Comments
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Honestly? 99.9% of people want the best price, and given you're London based, if it's a popular area, it's going to be a bidding war.
Write them a letter by all means but understand that virtually anyone is going to bank hard cold cash rather than the fluffy feeling of underselling their property when others can offer more.0 -
^+1. Money talks.
You are already in a strong bargaining position as you have nothing to sell, a deposit and AIP. You will be in the running, assuming your offer is good.Eat vegetables and fear no creditors, rather than eat duck and hide.0 -
Honestly? 99.9% of people want the best price, and given you're London based, if it's a popular area, it's going to be a bidding war.
Write them a letter by all means but understand that virtually anyone is going to bank hard cold cash rather than the fluffy feeling of underselling their property when others can offer more.
that's exactly what I was thinking, but my offer is the full asking price.
Once you start putting in offer over the asking price there is a big chance valuations might come in under which could potentially screw the seller up if they are buying another property. my wife and my mum have suggested i do this my dad telling me to not bother.Save Save Save:o
SPC 593 paye:o0 -
A letter wouldn't make any difference to me. I'd probably just view it as a tactic to try to soft soap me.
It's the amount of the offer I would be interested in & that will decide whether you get the house or not. Once I'd agreed to accept an offer, then my word is my bond. After accepting an offer, as far as I'm concerned, the house is going to be yours. Unless of course you mucked me about somewhere along the line, or changed your mind about buying.The bigger the bargain, the better I feel.
I should mention that there's only one of me, don't confuse me with others of the same name.0 -
I'd read it that I could squeeze you for more as you are keen. I wouldn't do it personally.Tomorrow is the most important thing in life0
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