As the real estate market became more competitive, buyers started using a Buyer Love Letter. You might wonder what a Buyer Love Letter is. When several buyers have submitted competing offers, one way for a buyer to set themselves apart is a letter the buyer sends to the seller. The buyers might tell the sellers how much they love the home and how they can visualize themselves living there, enjoying the rose garden the sellers have nutured. Or the buyer love letter may say how much they like that the local elementary school is within wakling distance, etc.
The buyers’ goal is to try to connect with the Seller’s heart and therefore give the buyer a leg up on the competition. My experience was that the Buyer Love Letter was effective. However, some other agents report that the buyer love letter can backfire. It could tip the buyers hand about how much they love the home and really, really are eager to buy it. That’s information that the sellers can use to their advantage in the inspection or appraisal negotiations.
Now another concern has developed. The Fair Housing Act forbids discrimination based on race or color, sex, religion, national origin, disability, or familial status. The Buyer Love Letter gives the seller the opportunity to discriminate based on those categories. Very few seller descriminate based on the buyer love letter, but that doesn’t free the seller from being accused of that exact thing – especially from buyers that were disappointed in not getting their offer accepted.
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Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour – Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm – choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market – that way you can beat others to the best homes. Send me an email with “specific search” in the subject line and your wish list – Price range, school district, style, minimum number of bedrooms, etc. – [email protected]n.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What’s the difference between a FHA loan and a Conventional loan? Send me an email – – [email protected] with “Home Loan Report” in subject field and I’ll send it right over.
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