It's a crazy market right now. Homes are flying off the market and many well-priced homes are receiving multiple offers. That being said, often times with multiple offers buyers are encouraged to write a personal letter to try and persuade the seller to choose them over another offer. But that might just not work in all cases. Let me explain.
I have this seller right now that has purchased a home elsewhere and now needs to sell. Her husband recently had a brain tumor and underwent surgery which left him mentally and physically incapable of helping her prepare the house. She was on her own for decision making. They needed to sell fast and get to their new home to be close to the new treatment for him. She needed the process to be easy and smooth.
We decided to price the home about $20,000 under market value in order to get the best price. We received a total of 7 offers, all over asking price and some upwards of $40,000 over. All but one offer had letters with them. I presented all the offers to her and gave her the basics of each. I asked if she wanted to read the letters and she declined. It was too much to handle, too emotional, and she didn't want to have to decide based on their letters. So she went with the one with the best terms and price, which also happened to be the one without a personal letter. They also waived the home inspection, which made her life a lot easier as well. - Here's why you shouldn't
In this case, it didn't matter what the letters said, it was not a deciding factor.
Now, this isn't a for sure thing all the time. Letters do sometimes help and it depends on the market. Sometimes just offering great terms and a great price is all you need to really make a statement and get your offer accepted.
This is also why is it so important to have an experienced agent on your side. They must know the market and micro-markets of neighborhoods in order to price homes correctly and write up a well-planned offer.
If you're ready to make an offer or just getting started in the home buying process, give me a call! I'd love to help you find the perfect home in the Palm Desert real estate area.
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