We think it's important for you to understand how we make money. It's pretty simple, actually. The offers for financial products you see on our platform come from companies who pay us. The money we make helps us give you access to free credit scores and reports and helps us create our other great tools and educational materials.
Compensation may factor into how and where products appear on our platform (and in what order). But since we generally make money when you find an offer you like and get, we try to show you offers we think are a good match for you. That's why we provide features like your Approval Odds and savings estimates.
Of course, the offers on our platform don't represent all financial products out there, but our goal is to show you as many great options as we can.
If you’re a homebuyer looking at property in a competitive market, you may want to consider writing a personal letter to the home seller to help land your dream home.
Although hard data on how well these letters work is hard to come by, there’s some anecdotal backing for the idea that these letters may sway sellers when they’re deciding between two similar offers.
It’s important to note that a letter to the home seller isn’t likely to overcome a higher offer or one that has fewer contingencies or a lot more cash for a down payment.
But if a seller is weighing two or more similar offers, a letter that describes what you like about the house, empathizes in a sincere way with the seller and conveys your feelings about the home may help tip the balance in your favor. It’s not hard to write these letters, especially if you genuinely love the home you’re bidding on.
Read on for a few pointers on how to write your letter to the home seller you’re trying to win over.
- Tip 1: Be specific
- Tip 2: Make it personal
- Tip 3: Stay positive
- Tip 4: Time it right
- Next steps: Look at samples
Tip 1: Be specific
If the sellers have lived in their home for a while, there’s a good chance they’re attached to it and would like the people who buy it to love it and take care of it. So, your letter should spell out how much you appreciate the home and the care the seller has put into its upkeep. Be specific! Say something nice about the kitchen tiling or the layout of a particular room and how you can picture yourself using it.
Tip 2: Make it personal
Keep in mind that other bidders are probably writing letters to the seller too. There’s nothing you can do about that, so focus on being real and personal.
You may be able to pick up clues about the sellers when you visit the home. Try to recall if during your tour of the home you discussed anything you had in common, and consider mentioning it in your letter.
For example, if you can tell the home seller is an avid gardener, you could mention how much you loved the backyard. And if you happen to be a gardener yourself, you could mention that as common ground.
Ask your realtor if they can share the seller’s name, so that you can include it in the letter.
Tip 3: Stay positive
Don’t get too personal when drafting your letter — remember, you and the seller probably just met (or haven’t met). Keep it positive and light. You don’t need to share your entire life story. And remember, there are federal and state laws that are meant to protect people from certain kinds of discrimination.
You may also want to skip any mention of plans for a major renovation, as that could tug on the seller’s heartstrings — you’re going to do WHAT to the room we ate dinner in as a family for 20 years?
Tip 4: Time it right
Opinions vary about when to send your letter. Some agents recommend sending it as soon as you see a home and decide that you’re interested. Others prefer to include the letter in the formal purchase offer — think of it as a cover letter. Your real estate agent should be a good guide to what’s expected in your market and what’s legal.
Next steps: Look at samples
If you’re curious, you can find examples of these letters on the web, or you can ask your agent for a template. Here are a few published by Housing Wire, a real estate news site.
And here’s some information to consider including in your letter to the homeowner.
- What details draw you to the home
- Why you want to buy the home (a great neighborhood for the kids, for example)
- What you like about the neighborhood or area of town
- Basic information about your family (such as how many children you have)