Things that could/should be mentioned in offer letter

epm-84

Albermarle said:

I did not think it was normal to actually send an initial offer in letter form?
Of course nothing to stop you, but usually initial offers are made verbally to the EA, then you can gauge the reaction better, and maybe extract a bit of useful info from them about the vendors position.

I was under the impression the written part (I was thinking email, not letter) is required, but you can phone up and follow through with the written form. I was also under the impression the EA has to pass on any offer, so once you've provided proof of funds, they'll have to send something across to the seller. Even if you've done it over the phone, what are you doing to write in the email when you send over the proof of funds - nothing about the offer?

Based on recently two different EAs saying (over the phone) they've confirmed my viewing appointment, only to later discover I don't have an appointment - I'm not sure I trust some of them to write down a message and action it correctly!

bobster2

epm-84 said:

Albermarle said:

I did not think it was normal to actually send an initial offer in letter form?
Of course nothing to stop you, but usually initial offers are made verbally to the EA, then you can gauge the reaction better, and maybe extract a bit of useful info from them about the vendors position.

I was under the impression the written part (I was thinking email, not letter) is required, but you can phone up and follow through with the written form. I was also under the impression the EA has to pass on any offer, so once you've provided proof of funds, they'll have to send something across to the seller. Even if you've done it over the phone, what are you doing to write in the email when you send over the proof of funds - nothing about the offer?

Based on recently two different EAs saying (over the phone) they've confirmed my viewing appointment, only to later discover I don't have an appointment - I'm not sure I trust some of them to write down a message and action it correctly!

I've never sent or received an "offer letter" during any of the sales I've been involved with.

Offer has been made verbally to the EA - sometimes with some verbal explanation / justification - that the EA may or may not pass on to the seller (along with their general observations / impressions of the buyer).

Once verbally agreed - then there is the written "memorandum of sale".

theartfullodger

Just make the offer , note points of value TO SELLER (those to you irrelevant)  - brief, calm, and see what happens.

About 22 years ago I made an offer on an "offers over" house, more that 15% below the offers over price.  Rejected  in the bluntest rudest manner I've ever enjoyed.  I calmly & politely thanked them for their response.

A week later I made the exact same offer. Accepted.  Owned it about 20 years.

See what happens. You've nothing to lose. 

RHemmings

epm-84 said:

 I was also under the impression the EA has to pass on any offer, so once you've provided proof of funds, 

I believe that the EA does not have to pass on any offer if the seller has instructed them not to pass on offers with certain characteristics. E.g. if they have said to not pass on any offers below a certain amount. 

fullyrendered

If you have viewed the property, and registered with the estate agent, proving you are a proceedable buyer, then just ring them up and make your offer. Leave out the reasons, don't write a letter.

Then see what the response is.

Herzlos

Albermarle said:

Are you doing it yourself or are you getting the solicitor to submit the offer?

I thought in England at least, solicitors prefer to keep out of the price negotiation process?

Good point! It's not even standard in Scotland unless the property is going to a closing date. 

Presumably a verbal/email offer to the EA is enough to get the ball rolling then?

ExEstateAgent

Just phone the agent and state your offer. The EA should ask you the relevant questions (are you in a chain etc). The answer will be yes, or no.