Should I write a letter to the seller to make a a case for why they should accept our offer?

ReadySteadyPop

kinger101 said:

If I'm selling a house, I want as much money as I can get for it.

If I started getting letters from prospective buyers that told me I must drop my price because they're really passionate, it would put me right off.  You'd sound like a moody teenager pining for someone out of their league.

This seller has already accepted they won`t get what they want for the house.

jimbog

maxxpayne said:

Some good feedback here (and some maybe a bit hilarious). 

Would appreciate eyes on the following letter I'm drafting to the agents.

Dear XXX,

Thank you for showing us around NNN, much appreciated.

After careful consideration, I'd like to formally submit an offer of XXX.

While I understand that the offer is at the lower range of the asking price, I believe we are strongly poised as buyers:

1. Chain-Free: We have a written offer from XXX who are interested in a cash purchase of our current flat. XXX completes the process in less than 6 weeks.
   

2. Flexible Moving Timeline: We are able to accommodate a moving timeline that suits the seller’s needs, as long as it doesn't push us into XXX
   

3. Affordability: We already have a decision in principle (please see NNN) that shows we can easily afford any mortgage on this property.
   

I would be grateful if you could present our offer to the seller and communicate our willingness to work closely with them to meet their timeline requirements, if any. 

Please don’t hesitate to reach out if you need any further information or documentation from us to support our offer.

NNN

Remove 'After careful consideration'

Change point 1 (as you aren't 'chain free' as you're in a chain) to 'Our property is currently Under Offer'
Point 2 is good but delete 'as long as it doesn't push us into XXX' (as it contradicts the first part of the sentence)
Edit Point 3 by deleting 'that shows we can easily afford any mortgage on this property' (it weakens your hand)

Grumpy_chap

kinger101 said:

Just put the offer to the agents.  If they think your offer has any merit, they'll do a better job if landing it.

They just want their selling fee. 

This ^^

Just make the offer.  It will meet one of three responses:
 - Accepted
 - Laughed at as way too low
 - Conversation starter.

You only need to put across any of the other points if the offer worked as a conversation starter.

incus432

What grumpychap said. Don't overcomplicate it

maxxpayne

Update. Made an offer to 810 eventually. 

The agent called back and said it was a strong offer but called again to see if we could go higher so I said 815 and that’s it I said. We’re over paying by 20k I think but it’ll be our home at the end of the day and not everything needs to be calculated on monetary scale I guess?

Anyway, let’s see what happens. 

hulu72

maxxpayne said:

Update. Made an offer to 810 eventually. 

The agent called back and said it was a strong offer but called again to see if we could go higher so I said 815 and that’s it I said. We’re over paying by 20k I think but it’ll be our home at the end of the day and not everything needs to be calculated on monetary scale I guess?

Anyway, let’s see what happens. 

At the end of the day if this really is your dream home I’m guessing you’re planning on being there for the next 10+ years? People get so hung up on ‘overpaying’ etc that they end up losing their dream home, when in reality the capital growth over that period is going to negate any amount you believe you’re overpaying

Hoenir

maxxpayne said:

Update. Made an offer to 810 eventually. 

The agent called back and said it was a strong offer but called again to see if we could go higher so I said 815 and that’s it I said. We’re over paying by 20k I think but it’ll be our home at the end of the day and not everything needs to be calculated on monetary scale I guess?

Anyway, let’s see what happens. 

If you plan to reside there 20 years. Then that £20k equates to £2.73p a day. 

HillStreetBlues

hulu72 said:

maxxpayne said:

Update. Made an offer to 810 eventually. 

The agent called back and said it was a strong offer but called again to see if we could go higher so I said 815 and that’s it I said. We’re over paying by 20k I think but it’ll be our home at the end of the day and not everything needs to be calculated on monetary scale I guess?

Anyway, let’s see what happens. 

At the end of the day if this really is your dream home I’m guessing you’re planning on being there for the next 10+ years? People get so hung up on ‘overpaying’ etc that they end up losing their dream home, when in reality the capital growth over that period is going to negate any amount you believe you’re overpaying

To me it's like going to a restaurant cause you really fancy steak and chips, when the menu comes you order sausage and mash. When asked did you enjoy it, you state no, I wanted steak and chips. Asked why you never order steak and chips you reply sausage and mash was better value.

TroubledTarts

Hoenir said:

maxxpayne said:

Update. Made an offer to 810 eventually. 

The agent called back and said it was a strong offer but called again to see if we could go higher so I said 815 and that’s it I said. We’re over paying by 20k I think but it’ll be our home at the end of the day and not everything needs to be calculated on monetary scale I guess?

Anyway, let’s see what happens. 

If you plan to reside there 20 years. Then that £20k equates to £2.73p a day. 

Plus interest 🤪 

jimbog

TroubledTarts said:

Hoenir said:

maxxpayne said:

Update. Made an offer to 810 eventually. 

The agent called back and said it was a strong offer but called again to see if we could go higher so I said 815 and that’s it I said. We’re over paying by 20k I think but it’ll be our home at the end of the day and not everything needs to be calculated on monetary scale I guess?

Anyway, let’s see what happens. 

If you plan to reside there 20 years. Then that £20k equates to £2.73p a day. 

Plus interest 🤪 

and assuming the property doesn't increase in value over 20 years