I’ve gotten a couple of questions asking if they should send a buyer letter to sellers with an initial offer.
Well, a couple of things, first It can be a good idea once negotiations have progressed to a sticking point or you have maxed out your offer. However, you need to be very careful how you word your letter. You never want to make the impression that you love the house at all costs.
Also never send a buyer letter with your first offer, unless it is your best and final offer. Why is this important to your negotiating strategy? Well, suppose you present a low starting offer with a buyer letter stating how much you like the home and can envision your family in the home. What impression does this give to the seller?
It tells the seller you’ll pay full price and a good listing agent will tell their seller to stick to their asking price. Bottom line is if a buyer presents a letter stating how much they like the house, sellers will say if they like it that much pay the asking price. And a good buyer agent should understand this and inform their buyer to hold off on presenting a letter until the final offer.