This article covers how to make your offer stand out in a seller’s market with a cover letter.
Think of the difference. If you’re selling your home, and you’re reviewing several offers that you’ve received for your home, you’re seeing different factors such as closing date, down payment, loan program, addendums and exceptions, but what you really key in on is the bottom line to you – how much will you net from each different offer.
All you’re seeing is data and numbers – terms and conditions. What if one of those offers included a heart-felt letter, hand written by the buyer that read like this:
“Thank you for considering our offer on your lovely home. We have viewed your home twice, and we love what you’ve done with it. It’s also the perfect fit for me and my family. You see, I’m a single mom who is raising three children, ages 8, 10 and 12. Your home is within two block of their school, so they can easily walk to and from school without crossing traffic or putting themselves as risk. Also, their grandmother lives two blocks down, so I know they will have a safe place to go to get a meal on those days that I have to work late and cannot make it home in time to provide dinner for them.
Buying your home would mean so much to me, and more importantly, it would mean so much to my children to know they are safe and will be well cared for.
Thank you for considering my offer. It’s the best we can do, my children will love playing in the large backyard, and I know I’m going to enjoy cooking family meals for them in your beautiful kitchen. Thank you!”
Would that make an impact on you? Of course it would! All things being equal, you would take that offer over other offers in a heartbeat, because you want someone to take care of your home and enjoy it as you had.
Now, let’s assume you’ve narrowed the offers down to two choices, but there is a slight difference in the bottom line to you. One offer is paying full price with no concessions from you. The other is a full-price offer, they are asking you to contribute $5,000 towards their closing costs, and they include the letter I mentioned above.
Would you still take the offer with the letter included? Maybe, maybe not. I’ve seen this work many times before – where a lesser offer gets accepted because of a warm, personal letter.
Including this letter with your offer is not a guarantee for success, but it certainly can make your offer stand out. And you never know – it could touch someone’s heart.
Take the extra time to write a letter with your offer, and you may be moving into your new home sooner than you think!
Tips on Writing your Cover Letter