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Old Yesterday, 05:33 AM
 
76 posts, read 29,242 times
Reputation: 140

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Dh and I have found The House. It's an antique in New England. The seller is a 74 year old woman who has lived there for 20 years. There are so many ways this house is right for us.

We need to ask for a long close: we need about 6 months to accrue the remainder of our dp.

I suspect the seller cares a lot about who buys her house. I know that she is an active preservationist, as are we. She has an enviable library, filled with books that are my favorites, too. Over the years she has cultivated stunning perennial gardens, I'm an avid gardener and would keep them going. There are other features that speak to us. Seller will be moving in September whether her house sells or not.

Because I think she's looking for more than just any offer, should I write to her and share our enthusiasm or is that over the top/unethical?

Many thanks as always!
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Old Yesterday, 05:52 AM
 
Location: Beautiful Rhode Island
6,885 posts, read 11,185,002 times
Reputation: 6890
I assume you both have agents or is this a FSBO and are you buying directly? If a FSBO, you can handle your negotiations and transaction as you see fit.

If you both have agents read this: OK to contact the sellers agent directly?
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Old Yesterday, 06:09 AM
 
Location: Cary, NC
33,787 posts, read 58,678,383 times
Reputation: 32643
Quote:
Originally Posted by grlwthprl View Post
Dh and I have found The House. It's an antique in New England. The seller is a 74 year old woman who has lived there for 20 years. There are so many ways this house is right for us.

We need to ask for a long close: we need about 6 months to accrue the remainder of our dp.

I suspect the seller cares a lot about who buys her house. I know that she is an active preservationist, as are we. She has an enviable library, filled with books that are my favorites, too. Over the years she has cultivated stunning perennial gardens, I'm an avid gardener and would keep them going. There are other features that speak to us. Seller will be moving in September whether her house sells or not.

Because I think she's looking for more than just any offer, should I write to her and share our enthusiasm or is that over the top/unethical?

Many thanks as always!

If you don't have an agency agreement that says your agent will be your point of contact in all communications, go for it.
If she has a listing agent, she may or may not welcome your contact, so be soft in your contact. Many people hire agents to function as handler of all inquiries and don't even care to meet the other party.
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Old Yesterday, 06:25 AM
 
Location: Blue Ridge Mntns., NC
10,929 posts, read 15,264,253 times
Reputation: 9789
If they won't have the required deposit, I don't see how they are going to qualify for a mortgage in the first place. As a seller, I wouldn't agree to wait 6 months, before closing. Sounds like they may be biting off more that they can chew. Anything can happen in 6 months.
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Old Yesterday, 06:31 AM
 
Location: Cary, NC
33,787 posts, read 58,678,383 times
Reputation: 32643
Quote:
Originally Posted by QuilterChick View Post
If they won't have the required deposit, I don't see how they are going to qualify for a mortgage in the first place. As a seller, I wouldn't agree to wait 6 months, before closing. Sounds like they may be biting off more that they can chew. Anything can happen in 6 months.

Eh.
Seller is ensconsed in her beloved home.
A buyer with the right attitudes and philosophies shows up.
Might as well have the conversation and if the seller is not in a rush, might as well take a large non-refundable deposit to hold the property while the buyer accumulates additional down payment.


Buyer may also explore higher LTV opportunities to accelerate closing.


People working objectively and in good faith and with mutual good will very may well make this happen.
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Old Yesterday, 06:38 AM
 
76 posts, read 29,242 times
Reputation: 140
We have a pre-approval letter for nearly twice the asking price of the house. We chose to tap our downpayment funds to help our newly graduated daughter with expenses related to her first real job, housing, etc.
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Old Yesterday, 06:40 AM
 
Location: Cary, NC
33,787 posts, read 58,678,383 times
Reputation: 32643
Quote:
Originally Posted by grlwthprl View Post
We have a pre-approval letter for nearly twice the asking price of the house. We had to tap our downpayment funds to help our newly graduated daughter with expenses related to her first real job, housing, etc.
If you cannot get the seller to agree to hold the house for you for six months, explore financing options with a lower down payment.
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Old Yesterday, 07:37 AM
 
Location: Minnesota
2,097 posts, read 886,355 times
Reputation: 3729
I personally don't see a problem. I would send a carefully worded note saying how much you admire the home and gardens and are hopeful you are able to purchase home. I would not talk about financial things at all in note, that should only be with the Realtors, don't over step. Say in note if she (homeowner) feels uncomfortable with your letter to let her(homeowner) Realtors know and you will not try and open a dialogue with her if she wishes not to. Homeowner may have things going on in her life and doesn't want to deal with you directly.

If she is open to it then I don't see a issue. She may be proud to talk about the home and tell you about it and talk about her gardens and what you might have planned. But keep financial business separate.
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Old Yesterday, 08:01 AM
 
1,127 posts, read 336,710 times
Reputation: 2382
Quote:
Originally Posted by grlwthprl View Post
Dh and I have found The House. It's an antique in New England. The seller is a 74 year old woman who has lived there for 20 years. There are so many ways this house is right for us.

We need to ask for a long close: we need about 6 months to accrue the remainder of our dp.

I suspect the seller cares a lot about who buys her house. I know that she is an active preservationist, as are we. She has an enviable library, filled with books that are my favorites, too. Over the years she has cultivated stunning perennial gardens, I'm an avid gardener and would keep them going. There are other features that speak to us. Seller will be moving in September whether her house sells or not.

Because I think she's looking for more than just any offer, should I write to her and share our enthusiasm or is that over the top/unethical?

Many thanks as always!
You say 74 years old like she's old!

How do you know she isn't taking her books?

It is fine to write your letter. I agree with other posters who suggest giving the letter to her real estate broker.

I really think you are getting ahead of yourself. You don't know that she is looking for more than any offer. Even if she is, financially, she may need to sell sooner than later.
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Old Yesterday, 08:10 AM
 
1,127 posts, read 336,710 times
Reputation: 2382
Quote:
Originally Posted by grlwthprl View Post
We have a pre-approval letter for nearly twice the asking price of the house. We chose to tap our downpayment funds to help our newly graduated daughter with expenses related to her first real job, housing, etc.
I'm doing the same. However, setting up a child in a new city isn't a lot of money. I paid the travel expenses and security fee for the apartment. It was cheaper to purchase new furniture (a bed, dresser, kitchen table and chair and sofa) then pay a moving company. A couple pots and pan and dishes. Some new clothing. Total costs were about $5,000. Even if I double that, it is still only $10,000.

What happened to your downpayment?

Last edited by YorktownGal; Yesterday at 08:45 AM..
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