Real estate has been a competitive market these days. Once you find your dream home in Charlotte, NC, there will most likely be other buyers making an offer aside from you. Due to having more demand for homes than supply, a different way of negotiation has been devised – buyer love letters. But do they actually work?
Sending buyer love letters to the seller may help give you an edge over other buyers, but there is no guarantee. Working with the best real estate agents and presenting an enticing offer to the seller works best in securing the Charlotte NC home you want.
Getting your dream house in Charlotte is not just about having the money to buy it. Every real estate transaction consists of processes that need to be done before the sale is complete. And part of that is making an offer. That offer has to be chosen by the seller among all other competing buyers in order for you to buy the house.
Buyer love letters may work or not work. It may increase the chances of your offer from getting selected, but it may also decrease it.
So, should you write a buyer love letter? Here are a few questions to ask yourself before writing one:
1. Do you have a strong offer?
The best way to convince a seller to sell their house to you is through your offer. If sellers are getting another offer with the right price, includes no repairs, and a quick close, it's hard for the seller to turn that down and pick someone who simply wrote a nice letter.
2. What does your real estate agent have to say about it?
The best person to consult regarding any move you want to make is your REALTOR®. They know what works and what doesn't when it comes to real estate transactions. Tell them about your plan to include a buyer love letter in the offer and ask their honest opinion about it.
3. Does any part of your letter violate fair housing laws?
The Fair Housing Act prohibits discrimination based on race, color, religion, sex, handicap, familial status, national origin, sexual orientation, or gender identity in selling, purchasing, or financing houses.
Before including a buyer love letter in your offer, show your real estate agent the letter's content. They will be able to let you know if any part of it violates fair housing laws.
This is just the tip of the iceberg. There's more to consider before sending that love letter to the seller. For a more in-depth guide on how buyer love letters work and how they impact real estate transactions, click the link to check out the article.
If you're an agent contemplating whether to include that letter your buyer wrote, this one's for you too. This might be the deciding factor that you're looking for.
When you're ready to score that new home or looking for more info about buyer love letters, call Showcase Realty at (704) 997-3794.