Have you sold a house before?

Question

Have any of you ever sold a house that you owned that was really popular in a demanding area and competitive price?

Today our dream house went on the market and we put up 1000 in earnest money, offered to pay asking price and all 6k in closing costs.

The thing is, there was 12 showings scheduled for the day & the realtor in charge wanted to "consider all options"🙄 so to me I guess if we don't get the house it'll be because some offered more then the asking price. I wrote the seller a letter and explained that I wanted our baby girl to grow up in that house so I hope we get it.

If you've ever owned and sold a popular house did a letter make a difference if all your financial demands were met?

Answer

My friend wrote a letter explaining blow she few up in the neighbourhood and didn't want to live anywhere else because of the memories, etc. It was when our market was really hot. They didn't have the highest offer but they own the house now. The old owners had them over before they moved out, left then some furniture, etc.

If my husband was selling a house and had multiple offers, he would pick the highest and go with that regardless of what might have come with other offers. Cold seeming - sure - but in his world real estate is a business.

So basically, it depends on who you are dealin with.

Answer

It really is a crapshoot. My husband and I wrote a letter when we were buying a place and there is this one place we really loved and we even offered $15,000 above everyone else and the seller still picked another buyer! I still get a bit sad every time we drive by.

Also depending on where you live there are cash buyers. I live in CA and have seen people pay 100% cash for an $850,000 home. Very few sellers can resist a cash offer.

Sometimes sellers want whoever will pay the largest down payment.

So a letter makes a difference sometimes but other times it does not. I would definitely include one because it may make a difference and requires minimal effort.

Answer

Those letters can make a difference, but there's more to consider than just asking price. Increased earnest deposits are a good way to show you're serious when you can't increase your offer. Short closing or long closing depending on what the sellers need, short option period of they have that in your state, also buyer's loan strength. You see, an FHA loan with a minimum down payment may be harder to close than a conventional with 20% and there are always cash offers. A cash offer under asking can be stronger than full price with a minimal down payment. The seller's agent is also not in a position to accept offers and with so many showings they are right to wait until the end of the day to present offers. A way to get in early is to put a time limit on your offer, but that can backfire and put you in a weak negotiating standpoint if you go back after it expires.

Answer

Yes. We sold our first house 2 years ago and it sold in 12 hours for over asking price. The buyer did write a nice letter and pointed out specific things they liked about the house. Our backup buyer offered 1k more but they were only able to put 15% down and the others could put 40% down. The backup buyers also wrote a letter but it wasn't as personal.

Answer

Not me personally, but I have friends that were able to acquire a house because they let the owner know how much they loved the house, were going to raise their kids there, and they wouldn't change the physical structure. The owners deceased husband was an architect and he designed the house.

Have you sold a house before?

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