How to Draft an Effective Homebuyer's Offer Letter

There's a lot of competition amongst home buyers today, especially if they're financing their homes through bank loans, or can only afford to pay a small down payment amount. Quite often, they're forced to submit a letter along with their applications, and convince the current home owners regarding their capacity to successfully pay the cost incurred while buying their homes. This proves to be difficult, at times, and the prospective buyer is often at a loss how to go about drafting the home buyer's offer letter. The article provides some valuable tips in drafting such a letter.

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Include flattery

You're buying, and the seller is not in a hurry to sell without earning a good profit out of the real estate deal. You need to grab the person's attention before you come to the point, and the best way to get the reader's attention is to include flattery. People like it when they are given enough importance, or when they are made to feel important. Don't overdo it though - too much of sugar can sometimes ruin the cake's icing.

Get to the point straight away

It does not make sense to ramble on in your letter. People just don't have enough time to spend over what you think, or what kinds of difficulties you have experienced lately. So it's recommended you do away with all points or discussions that are not directly connected with your current objectives of drafting the letter viz. buying your home.

Be humble

Remember, the home owner has several choices in deciding whom to sell his or her home - you aren't the only buyer on the list. Being arrogant or demanding can put off the sellers - they won't even bother reading the rest of your letter and find out what you have to say. Being humble and showing humility can really compel the reader in carefully reading your offer.

Show financial stability

Finally, it all comes down to finance. Whether you're a good person or a bad one, it is money that's important to the seller, not your personal virtues. It's important to show stability and consistency while offering to buy real estate of any kind, and home buying is not an exception. Clearly state your viability in meeting the financial requirements. If possible, include copies of bank account statements and accountant's recommendations along with your offer letter.

Conclude with clarity and confidence

It's the ending that often decides whether the home seller is going to entertain your application. While reading your letter, the owner conjures a mental picture of you in accordance to what you have already stated in the letter. It's better to consolidate that picture in the end by clearly stating what you desire to do, how you plan to do it, and how effectively you can do it.

Even though there's no guarantee how the home owner is likely to react to the offer letter, it pays to increase your chances of owning your dream home by putting in all efforts while completing the formalities. Drafting a convincing offer letter is the first step in opening the negotiation doors, which can further lead to a lucrative home buying offer subsequently.

Source: PropertyCluster.com/Blog