If you are looking at buying a property either for vacation stay or for any other personal purpose, then you should be familiar with the term, “offer letter”. As a real estate owner looking to sell, you probably have several clients bidding for the same property, with the idea of a good offer letter, you can easily decide who is the best fit for the property and avoid selling to the for wrong client.
If you don’t know what an offer letter is, you have no idea how to write an offer letter that wins, or as a real estate agent you do not know how to identify the most suitable client for the purchase of a property, then this article is for you. In this article, we will be showing you everything you need to know about offer letters.
Let’s dig in!
What Is an Offer Letter?
The professional letter that a potential buyer writes to sellers to express his or her desire to buy a particular property is known as an offer letter.
It is a tool that buyers can use to convince sellers of their superiority. Essentially, it functions somewhat like a cover letter that you submit with your application for a job.
Picture this;
You’ve just found your dream home in the choicest location and are looking forward to moving in with your family. The problem is that this house has captured the hearts of many people besides just you. There are several offers competing for the seller’s consideration, and you’re wondering how to make sure yours stands out from the others.
This is where having a strong real estate offer letter becomes important. It’s your lucky charm, the secret to finding that fine line between earnest sincerity and professionalism. The right words could be the decisive moment that makes your dream come true or makes you decide to start looking for the ideal house again.
Now you get the gist!
Is an Offer Letter Necessary?
Although an offer letter is not a compulsory document when buying a landed property, but is a very necessary to attach one when making a bid. You may be surprised to learn that your offer does not guarantee acceptance even if it is the best one. When assessing the several offers, they have received, the seller may also consider other considerations. So, to make your offer stand out, and to increase your chances of getting your dream property, it is essential to attach an offer letter to your concrete offer.
In simple terms, the offer letter acts in the same way a cover letter does to a job seeker, as it does the following;
1. Shows that you are a serious client
2. Helps the seller or real estate agent relate with you personally
3. Displays your organization level
How To Write an Offer Letter No One Can Say No To.
Writing an offer letter doesn’t have to be a herculean task, actually, you don’t need to be an extremely good writer. All you need do, is follow the format I will show you and voila! You will have the perfect “you can not resist me” offer letter.
Before we look at the format, let’s see what you do not need to include in your offer letter.
When writing an offer letter, avoid including the following;
1. Overly personal information: the key here is to strike a balance, while you want the seller to relate with you on a personal level, you do not want them to know everything about you. So, leave out information that are very personal; race, religion, gender etc.
2. Detailed Financial Status: the seller doesn’t need to know that you are a low-income earner or that you have 10 other real estate properties or that you go on a shopping spree every weekend. Make your bid and make the offer simple.
3. Desperate Pleas: no one likes desperation, so do not make your offer letter sound like your life depends on you buying that property. Be polite but don’t look desperate. Avoid rude and proud comments as well.
4. Things you do not like/ wish to change on the property: It is not expected that you will like the property 100%, but you don’t have to mention this in your offer letter. I know there are a few things you may want to change or upgrade, avoid mentioning them, instead emphasize on the things you like about the property.
Format To Follow When Writing an Offer Letter
1. Address The Seller Personally: while you may want to send the offer letter the real estate agent too, it is better you send it to the seller personally (that doesn’t stop you from sending a copy to the real estate agent too). If you know the name of the seller, address them by it. i.e., instead of saying; ‘dear seller’, say “dear Mr. John”.
2. Reconfirm The Property’s Details: It’s possible that the seller is listing multiple properties at the moment. Don’t forget to include the specifics of the property you want to buy so as to clear up any confusion.
3. State your Bid and Your Payment Plan: no matter how low your bid is, you’ll have to include it in your letter. Also, explain the payment plan you intend to use.
4. Sell Your Offer: this is the point where you talk about the features you love about the property, flatter the seller (do it moderately so you don’t sound desperate), talk a bit about yourself and what makes you the best person to buy the property. Here you have to be creative, put your best foot forward.
5. State your conditions: if you have any conditions, state them politely but firmly.
6. Validity Date: you will need to include how long your offer to buy stands.
As you write your letter, be reasonable, do not sound pushy, rude or desperate. Remember moderation is key.
What Do I Do If I Have Not Found the Right Property?
You definitely cannot submit an offer letter or even make an offer if you haven’t found the right property for you. When buying real estate, you don’t have to settle, especially when there are so many options for you.
If you haven’t found the right property yet and you are already tired of searching, or you have an idea of what you want but you don’t want to go through the stress of juggling between real estate agents, then I have good news for you; there is a place you can search for what you need with just a swipe of your finger.
Realtor Central offers you the opportunity to view house listings in your desired location. With house properties/features clearly spelt out, a large pool of house listings to choose from and a user-friendly website, www.realtorcentralng.com takes the stress of your house hunting experience and makes buying your dream home a reality.
Visit www.realtorcentralng.com to get started on finding the perfect house for you.
