Best & Final Offer.

milocat

Hi everyone, 

We've been househunting for over a year, looking for the perfect rural smallholding. One has come up, we rang and had a viewing within 48 hours of it being listed. It's listed as offers over £400.000 so we initially offered £410,000, but were told that there are other offers on the table with another 4 viewings to go (those were completed yesterday). The estate agent has advised us that we are going to have to put in a best & final offer. 

I've written this to submit back to them, could you tell me if it sounds okay? 

To whom it may concern,

RE: XXXXX.

I would really appreciate the opportunity to tell you a little about us prior to you making your decisions. We are cash buyers with a small chain, our purchasers Mr XXX & Ms XXX have sold to clients who have sold to First Time Buyers. Our resources for purchasing this property will come from cash on proceeds and money already in the bank. We are working with XXX Solicitors, recommended by XXX Properties for both our sale and hopeful purchase; XXX’s have all the details they need and are happy to pass the file to conveyancing as soon as they receive our instructions. We have read the Home Information Pack thoroughly, and have no major concerns, nor will we be instructing our solicitors to raise many lengthy queries. We are eager to proceed, and can do so at a time scale that is beneficial to both parties.

We have been looking for a property in the countryside for over a year, and believe that XXXX is perfect for us to raise our children away from screens, where we want to plant a wildflower meadow and raise animals and live a simpler life.

Our full & final offer for the property is £431,000.

We are not able to offer any more than £431k without causing ourselves a very tight few years financially, but am looking for input on this email as I've never had to write anything like this before. Any help appreciated! 

comeandgo

You don’t need to put a story, just your final offer.  For all you know all your reasons may be what annoys the sellers, they may hate someone depriving their children of screen time.

TheJP

Being honest I got bored within the first couple of sentences, in a market like this with multiple offers the seller will mainly be interested in the figure. Its too long and cringey IMO I would only have a couple of lines indicating how big the chain is and at what stage they are. 

milocat

Okay, I've removed the names of our buyers and the "screen time".
The house was a holiday let so I'm really struggling with the whole idea of having to write an email without any basis or script!

p00hsticks

That confuses me - are you really 'cash buyers' or do you actually need the proceeds from the sale of a property in order to complete the purchase ?

milocat

P00hsticks - both I guess? It's proceeds from sale and cash in the bank that will fund the purchase as the proceeds of the sale don't cover the amount I want to offer. I don't know how to phrase that though!

MaryNB

milocat said:

P00hsticks - both I guess? It's proceeds from sale and cash in the bank that will fund the purchase as the proceeds of the sale don't cover the amount I want to offer. I don't know how to phrase that though!

Cash buyer generally applies to someone who has the cash readily available to buy the property. You are dependent on the sale of your own property to fund the purchase, but don't require a mortgage. 

JCarmello

p00hsticks said:

That confuses me - are you really 'cash buyers' or do you actually need the proceeds from the sale of a property in order to complete the purchase ?

Reads like it's just mortgage free, which should mean that they will actually be able to curtail queries from solicitors. That said, I'd discourage anyone from doing this. (Good) solicitors are there to protect you.

milocat

JCarmello said:

p00hsticks said:

That confuses me - are you really 'cash buyers' or do you actually need the proceeds from the sale of a property in order to complete the purchase ?

Reads like it's just mortgage free, which should mean that they will actually be able to curtail queries from solicitors. That said, I'd discourage anyone from doing this. (Good) solicitors are there to protect you.

Sorry if I'm being dense, what does it mean "actually be able to curtail queries from solicitors" and why is this not a good thing? 

milocat

Updated version:

I would really appreciate the opportunity to tell you a little about us prior to you making your decisions.

We are cash buyers with a small chain, our purchasers have sold to clients who have sold to First Time Buyers. Our resources for purchasing this property will come from cash on proceeds and money already in the bank.

We are working with XXXXX Solicitors, recommended by XXXXX Properties for both our sale and hopeful purchase; XXXX have all the details they need and are happy to pass the file to conveyancing as soon as they receive our instructions.

We have read the Home Information Pack thoroughly and are eager to proceed quickly if required, or at the seller’s pace.

We have been looking for a property in the countryside for over a year and believe that XXXXX is perfect for us to raise our children, plant a wildflower meadow, raise animals and live a simpler life.

We are pleased to submit a full & final offer for the property of £431,000.

[Deleted User]

I know others have said it's very wordy and wouldn't be interested but if I was the vendor I would be interested in relevant info. Sometimes it's not just figures. Especially if there are two identical top offers for example. And some vendors will like the fact that it's going to a young family to keep it going for many years. What about bullet pointing the relevant points so they have it without too much 'fluff'?

- Very committed to the property as the ideal property for your young family 
- Sold and in a small chain
- Purchase would be mortgage free & funded by equity and savings
- Solicitors already engaged and we are proceedable asap