With multiple offers pouring in on one house, cover letters are often the determining factor in which buyer a seller chooses. And given today’s shortage of housing inventory, don’t take lightly the importance of writing up a genuine and heartfelt letter on why owning this home is important for your future.
Whether it’s the future house to raise your first child in or within a few miles of your parents, let the buyer know why this specific house is perfect for you.
Angela Bao, a realtor at ERA iRealty in Plano, Texas, recently outlined tips in a HousingWire blog on how buyers can win a bidding war against all-cash offers, pointing out the importance of a cover letter.
“When you have a seller who is attached to their property and interested in seeing it go to the right buyer, a personalized letter could be the strategic advantage that gets you a winning bid,” said Bao.
“In many cases, cash offers are made by investors looking to either flip the home or convert it to a rental property. If you are a couple looking to raise a family in that home, stating that intention in the letter could appeal to the seller’s emotional side and close the deal in your favor,” said Bao.
About two years ago, HousingWire published an article titled, “Here’s a sample cover letter to help secure your client's dream home.”
Even though the cover letter example in the article is still relevant, HousingWire asked Bao, along with a couple other Realtors, to send in more examples of cover letters.
Since bidding wars are still very common in the market, hopefully these examples can serve as a reference point on how to write your own.
The three examples are below. Click to enlarge the letter.