What’s a buyer letter? A buyer letter is a short letter from the buyer written to the seller. It simply gives a short description of the buyer(s) and explains their interest in the seller’s home. In the recent months we’ve seen many first time home buyers utilize this tool.
Do I have to submit a buyer letter? You definitely don’t need to submit a buyer letter. Some buyers don’t want to disclose their personal situation. However, especially in many first time home buyer demographics where we’re seeing multiple offers and bidding wars, buyer letters can really make a difference.
Doesn’t the seller just care about the purchase price? Not necessarily. To most sellers, selling their home is more than just a financial transaction, it’s also an emotional process. Many sellers may be drawn to a specific buyer that they can relate to, may it be through their hobbies, families or career paths. Also, many sellers may feel for first time home buyers just starting out.
Are there any down sides to writing a buyer letter? Generally, no. There is no cost or down side to writing a letter to the seller. It takes five minutes of your time, and we suggest all first time home buyers utilize this strategy. Just keep it to a couple paragraphs, as the seller doesn’t necessarily need to know your life story.
Don’t make the biggest financial decision of your life without getting educated! If you’d like to learn more about the first time home buyer process in general, please go to our Calendar/Reservations page and register for one of our FREE First Time Home Buyer workshops.