Colleen Griffin - RE/MAX Vision



Posted by Colleen Griffin on 8/6/2018

Making an offer on a home youíre hoping to buy is a stressful endeavor. You want your offer to stand apart from others, and if you donít feel comfortable increasing the offer, a personalized letter is a good way to explain your situation and possibly sway the seller in your favor.

Sounds good, right? But when most of us sit down to write an effective offer letter we often come up stumped. What makes your situation different than any other hopeful buyer? How do you find the right tone in your letter? How do you sign off at the end? 

There are a number of things to consider when writing an offer letter. So, in this article, weíre going to help you craft an offer letter that will give you the best chance of getting accepted by a home seller.

 Begin with them

Before you start talking about yourself and why you love the house, start by addressing the seller by name. Thank them for letting you view their home, and compliment them on the work theyíve done to take care of it.

Why you love their home

A good place to start in your offer letter is to describe exactly what sets their home apart from the others you looked at. Are there defining characteristics of the home that make it perfectly suited to your family? Does it have a large yard that your dog will love to run in or the workshop youíve always wanted to practice your woodworking?
Make your letter personal. This is your chance to show that you arenít just concerned with the price of the home.

Share information wisely

Some buyers get excited about all of the changes they would make if their offer was accepted on a home. And while itís okay to plan and be excited for the future, you might not want to share that information with the seller.

Remember that they have many memories and hours of work put into their home, and they might not appreciate you talking about how youíre going to start tearing down walls.

Be concise

Once you get into the flow of writing your letter, itís easy to get carried away. However, sellers will be more receptive to reading and understanding your letter if it is short and to the point. Try not to go over a page, single-spaced.

Once youíve written your letter, review it to see if thereís anything that can be simplified or removed altogether.

Peer review

Before sending your letter, have a family member, friend, or real estate agent look it over. Not only will they be able to catch small grammatical errors, but theyíll also let you know if something youíve written is confusing or would be considered over-sharing.

Presentation

You might be tempted to hit the send button as soon as youíre done with your letter. However, receiving an email can be impersonal--we all get hundreds of emails that we never even open. Rather, print your letter on nice paper, sign it by hand, and consider attaching a family photo if you have one thatís suitable.





Posted by Colleen Griffin on 7/2/2018

If you receive an offer to purchase your house, determining how to proceed with this proposal sometimes can be difficult. Ultimately, a home seller needs to weigh the pros and cons of accepting an offer to purchase. And if the pros outweigh the cons, it probably is a good idea to accept the homebuying proposal.

When it comes to reviewing an offer to purchase, there are many reasons why a seller should accept this proposal, and these include:

1. An offer to purchase matches or exceeds a home seller's expectations.

If a home seller receives an offer to purchase at or above the initial asking price for his or her house, accepting the proposal likely is a no-brainer. In fact, a seller may want to provide an instant "Yes" to this offer so he or she can quickly move on to the next step of the property selling journey.

Of course, it helps to establish realistic home selling expectations before listing a residence. If a seller sets a competitive initial asking price that corresponds to his or her home selling expectations, then this individual may be better equipped than others to enjoy a seamless property selling experience.

2. An offer to purchase falls in line with the current housing market's conditions.

If you're selling a home in a buyer's market, you may pounce at the opportunity to accept any offer to purchase that comes your way. Comparatively, if you list your house in a seller's market, you may need to consider all of your options closely before you accept an offer to purchase.

As a home seller, you should evaluate the current state of the real estate market. If you allocate time and resources to learn about the housing market, you can gain real estate market insights to help you determine whether to accept an offer to purchase.

3. An offer to purchase enables a home seller to speed up the property selling process.

If you're operating on a tight home selling timeline, you may be more inclined than ever before to accept an offer to purchase, even if it falls below your initial expectations. Conversely, if you plan ahead for the home selling journey, you may reduce the risk of facing a time crunch to sell your house.

For home sellers, hiring a real estate agent is key. This housing market professional can help a seller prepare for the real estate market and ensure that a seller sets a competitive price for his or her house. Plus, a real estate agent will set up home showings and open house events to showcase a residence to prospective buyers. And if a seller receives an offer to purchase, a real estate agent can provide a recommendation about the best way to respond to this homebuying proposal.

Ready to add your house to the real estate market? Collaborate with a real estate agent, and you can boost the likelihood of getting an offer to purchase your home that allows you to maximize the value of your property.





Posted by Colleen Griffin on 5/28/2018

Deciding whether to submit an offer to purchase a house may prove to be difficult. Fortunately, we're here to help you weigh the pros and cons of submitting a homebuying proposal so you can make the best-possible decision.

Now, let's take a look at three tips to help you determine whether now is the right time to submit an offer to purchase a residence.

1. Evaluate Your Budget

If you believe you've found your dream home, you should take a look at your budget. That way, you can verify whether you'll be able to afford this residence both now and in the future.

Oftentimes, it helps to get pre-approved for a mortgage before you start a house search. If you meet with banks and credit unions, you can learn about all of the mortgage options at your disposal. Then, you can select a mortgage that allows you to pursue a house with a budget in hand.

2. Consider Your Homebuying Criteria

You want to discover your dream residence as quickly as possible, but it is paramount to find a house that you can enjoy for years to come. If you have a list of homebuying criteria, you may be able to quickly determine whether a residence is right for you.

As you craft homebuying criteria, think about what you want to find in your dream residence. For instance, if you've always wanted to own a house on a beach, you can narrow your home search accordingly. On the other hand, if you would like to own a home that has an above-ground swimming pool but can live without this feature if necessary, you should include an above-ground swimming pool as a low-priority item on your homebuying checklist.

3. Assess the Housing Market

The housing market often fluctuates, and a buyer's market today may shift into seller's favor tomorrow. If you analyze the housing market closely, you can differentiate a buyer's market from a seller's one. You then can decide whether to submit an offer to purchase or hold off on providing a homebuying proposal until housing market conditions improve.

To distinguish a buyer's market from a seller's market, it generally is a good idea to look at the prices of recently sold houses in your city or town. You also should find out how long these residences were available before they sold. By reviewing this housing market data, you can assess the demand for houses in your city or town.

Lastly, as you debate whether to submit an offer to purchase a residence, you may want to consult with a real estate agent. This housing market professional is happy to provide honest, unbiased homebuying recommendations. As a result, a real estate agent can help you perform an in-depth evaluation of a home and determine whether to offer to buy this house.

Make an informed decision about whether to submit an offer to purchase a residence Ė use the aforementioned tips, and you'll be better equipped than ever before to decide how to proceed with any house, at any time.







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