In a competitive real estate market, buyers want to give as much strength to their offers as possible in an effort to try and edge out other offers for the same property.
One creative way to try and get a seller’s attention is for a buyer to write a letter to the seller explaining why the seller should select their offer. In the industry, these letters are referred to as love letters. These letters often include family photos.
While you may think this is a great idea, you need to know that love letters can be a detriment.
A letter to a seller that unintentionally reveals your status in one of the seven protected classes of the Fair Housing Act could result in a violation if the seller makes a decision based on information pertaining to your race, colour, religion, sex, disability, familial status or national origin provided in your letter.
Writing a personal letter can also hinder your negotiating power because a seller could view your letter as you “showing your hand” before negotiations even begin.
A seller can become uncomfortable if you divulge too much information in a love letter. You would be weakening the strength of your offer position because the seller can no longer be objective in negotiating with you.
You want to think twice before you put pen to paper to create a love letter. Instead, find ways to improve the content of your offer to give it as much strength as possible. The seller views the sale as a financial transaction that should not be emotion-driven.
You want to buy a home based on the merits of your offer. I can help you put your best offer on the table. Call or email me, and let’s make your home-buying experience a positive one.