You’ve finally stumbled upon the perfect property in an ideal location, envisioning the launch of your dream vacation rental business. But, here’s the catch – you’re not the only one who’s fallen in love with this home. Multiple offers are vying for the seller’s attention, leaving you wondering how to ensure your offer shines above the rest.
This is where the power of a well-crafted real estate offer letter comes into play. It’s your golden ticket, the key to striking that delicate balance between professionalism and heartfelt sincerity. The right words can be the tipping point, turning your dream into reality or forcing you to resume your search for the perfect home.
So, you might be thinking, how can you draft a winning property offer letter that captivates the seller without revealing too much personal information and sounding desperate? The task is more intricate than it appears, with numerous potential pitfalls along the way.
Thankfully, we’ve got you covered. In this article, we’ll show you how to write an offer letter for a house and provide you with expert tips to give you the best shot at success. To make things even easier, we’ve crafted the perfect sample offer letter to purchase property.
Ready to take the plunge? Download our free real estate offer letter template now and kickstart your journey towards securing that dream property.
Don’t see the form to download our offer letter template? Click here.
What is a real estate offer letter?
A real estate offer letter is your chance, as a potential buyer, to tell the seller why you are the ideal candidate to take ownership of their cherished home. It is usually a written document, and it is not unlike the cover letter to a resume when you apply for a job – it’s your one opportunity to make a lasting impression, both in terms of your offer’s value and your suitability as the buyer.
Why do I need a property offer letter?
While a competitive price is undoubtedly a significant factor when wooing the seller, it’s essential to realize that real estate transactions aren’t solely about money. Many homeowners share a deep emotional connection to their properties, and they want to be sure their prized possession goes to someone who will cherish and look after them the same way they did. Writing an offer letter on a house is not a legal necessity, but it’s your chance to convince the seller to consider your offer, even if it isn’t the highest.
Your property offer letter should strike a balance between professionalism and personal touch, showcasing your sincerity. It’s an opportunity to show the seller that their home will be in good hands.
What should you include in your real estate offer letter?
While there’s no fixed legal requirement regarding the contents of your offer letter, most follow a standard format. Using a professional house offer letter template can help ensure you cover all the essential bases for crafting an effective real estate offer letter.
Personal details of the seller
As this is the person whose property you want to buy and whom you’d like to impress, we recommend you address your letter to the owner personally and include their physical address.
The bottom line
Although the vendor is probably already aware of the financial details of your offer, it’s essential to include the price you’re offering to pay for the property. You don’t need to worry about taxes or other additional fees at this stage – just the bottom line.
When and how do you plan to pay
By informing the seller when you envisage paying what amount, you signal that you are a serious buyer with a clear plan to finance your purchase. It could help to reassure the owner that you are a trustworthy buyer.
Clauses of conditionality or exclusivity
If your offer will be subject to certain conditions or you’d like to negotiate a period of exclusivity, it is important to include this information in your offer letter. For example, if your offer will be subject to a home inspection, mention this in your letter.
Offer validity date
By setting a validity date typically between 5 to 15 days, you encourage the buyer to make a decision quickly, avoiding the insecurity of a drawn-out bidding process.
Create a personal connection
Share a bit about yourself and your enthusiasm for the property. Discuss what you appreciate about the home, how you envision your life there, and your excitement about joining the neighborhood. Find common ground to connect with the seller.
But play it safe. Now is not the time to mention your collection of pet snakes or that the home lends itself perfectly to all-night parties.
Show your appreciation for the home
Telling the owner how much you love their home by including some details you loved and what attracted you to the property in the first place adds a nice touch. Everyone likes to feel appreciated and complimented for their excellent taste. Of course, the caveat here is: Don’t overdo it and be genuine. Fake praise leaves a bad taste.
Try to relate to the owner
As with many transactions, establishing a personal connection with the seller could count in your favor. Make a mental note of anything you see during your home viewings that could help you connect with the owner. For example, if they have a dog, mention that you think the house will be perfect for your dog too.
What should you NOT include in your letter to buy a house?
By using a house offer letter template, you’ll not only sidestep common pitfalls but also ensure that your intention to purchase a home is conveyed effectively and professionally. However, let’s take a look at what you must steer clear of when composing your letter to guarantee the best chance of success.
Too much information about your financial status
Avoid delving into the intricacies of your financial situation beyond the offer price and deposit. Excessive financial information can complicate negotiations.
Any kind of criticism
Now is not the time to talk about how much you hate the wallpaper color or how you plan to knock out a few walls to make the house feel less cramped. Show appreciation for the home and avoid criticizing the owner’s style.
Contradictions
Even though the property offer letter is not a legally binding contract, you want to be sure that if things go well and you sign a purchase agreement, there are no surprises for the vendor. It could cause them to lose faith in you.
Pushy or aggressive language
Yes, you are trying to sell yourself – but avoid sounding too pushy or competitive. Try to persuade the owner that you’re the right person without criticizing the competitors or bragging about your financial situation.
Your letter is more about persuasion than a hard sell.
Avoid sounding desperate
Maintain your composure and confidence. Desperation can give the seller the upper hand.
FAQ about home seller offer letters
You can write an offer letter to purchase property in a variety of ways. The best way of writing a successful one that makes your offer stand out from the crowd is to become an expert in writing offer letters. Below, we try to answer some questions you may still have on the topic:
Can a real estate offer letter be sent via email?
Although a written document is typical, technically, an email offer is acceptable. However, a written letter often conveys professionalism and respect.
Does a real estate agent need to be involved?
No, you can submit the offer letter yourself. However, real estate agents bring market (and off-market) expertise and negotiation skills to the table, making their involvement worth considering.
Is an accepted offer binding or can the seller still walk away?
Once the seller accepts your offer, they can’t back out unless specific conditions are not met, such as a failure to pay the deposit or meet other contract stipulations.
Can you make an offer on a house that is under contract?
Absolutely. There are several instances when sales don’t go through, for example when the payment conditions are not met. However, as explained above, the seller can’t consider an alternative offer while the property is still under contract.
Sample letter of offer to buy property
At Lodgify, our goal is to make your life as a vacation rental owner or aspiring owner as effortless as possible. That’s why we provide you with all the tools you need to establish and manage your business. As promised, we offer a customizable real estate offer letter sample in PDF format. Download it, make it your own, and set the wheels in motion for your dream property.
Once you’ve secured the sale using our house offer template, and you’re ready to embark on your vacation rental business journey, explore our vacation software solutions to simplify the setup and management of your venture.
Don’t see the form to download our offer letter template? Click here.
