Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I wouldn't be swayed by letters of emotional pleading.
I like to note that highest bidder doesn't always win. Lets just say I have been involved in quite a handful of real estate transaction for my personal dealings......I've gotten accepted and I was not the highest bidder.....their is real value of buyers who can really close a deal and how fast.
I wouldn't be swayed by letters of emotional pleading.
I like to note that highest bidder doesn't always win. Lets just say I have been involved in quite a handful of real estate transaction for my personal dealings......I've gotten accepted and I was not the highest bidder.....their is real value of buyers who can really close a deal and how fast.
"Emotional pleading" isn't necessarily the same as "whining", "begging", etc. but, based on previous replies, there seems to be the p.o.v. that such a letter is some sign of excessive financial weakness on the part of the bidder which they, perhaps, hope to "trick" the seller into overlooking.
I can't edit my OP to state, "All other things being equal" which I presumed everyone would automatically assume. Shame on me.
Well, your basic premise is flawed, because the seller can't possibly know if everything else is equal.
But - let's say there was some magical way to discern that. My answer is still no. I did not become emotionally attached to my first house (the one I grew up in and my parents owned for 40 + years), I did not become emotionally attached to the first house I owned as an adult and I'm not gonna get emotionally attached to this one either. It's a business transaction.
Many r/e transaction has some emotional attachment to it from seller POV....which is pretty logical. A few have told me that they want their home to go to a good family. I remember vividly how some asked me to move up my offer a little more as they really liked me. Sometimes I did, sometimes I didn't.
I had other instances where the seller have told me that they had higher offers and they refuse them because they did not like the potential buyers.
Unless I met them in person and can relate, I would not be swayed by a letter. Anyone can write such a letter.
I think I'd go with them (because of the extra effort) if I was already getting my target price or more. Or I purchased when the house was $50k and now it's $400k.
The last family we sold to (I was at every showing) was renting and had problems with their neighbors and had to get out of there immediately. Also they had a young kid and another on the way. Even though they were ultimately the only good bid and we made back what we paid, I was very happy to sell to them.
Let's say you're selling your home and received three bids.
Two are particularly close to each other and the third is insignificantly lower than the other two. However, the third bid was accompanied with a handwritten letter from the bidder explaining why they love the house and what it would mean to them if you would accept their bid; which is, they wrote, all they can reasonably afford.
Would you be inclined to be swayed by the lowest bidder's letter and accept their bid?
The one with the best funding wins! Not necessary the "highest bidder". I turned down an offer from the highest bidder. They only had 3% and the were friends (offered 315k) VS. single guy with 100k down (310k sales price at the time) steady job/salary.
Sometimes an extra few grand is just not worth it.
Perhaps I should have also said, "All other things being equal"?
Then why wouldn't you take that offer? I don't understand if all other things are fairly equal, it's a NO brainer. Take the offer of the person who wrote the letter.
Then why wouldn't you take that offer? I don't understand if all other things are fairly equal, it's a NO brainer. Take the offer of the person who wrote the letter.
Once you assess who has the stronger offer, I'd take whoever I liked better, or whoever was "first"
we ewre selling and had to choose between 2 offers that were essentially identical, niether would increase, both had a good amount down, both were good people. I liked 1 better, my wife liked the other, but we were happy with both. we picked the guy who offered first.
I never even met anyone who looked at my house. Didn't meet the buyers till closing. I find the whole thing about liking one buyer over another a little odd. Also, if you are a FSBO this is how people get themselves in hot water with anti-discrimination laws (not that it ever gets proven).
rh71 makes a good point - I think you see this more with people who paid $50K back in the day.
I never even met anyone who looked at my house. Didn't meet the buyers till closing. I find the whole thing about liking one buyer over another a little odd. Also, if you are a FSBO this is how people get themselves in hot water with anti-discrimination laws (not that it ever gets proven).
rh71 makes a good point - I think you see this more with people who paid $50K back in the day.
Yes my first home the sellers did not want to leave, and were very attached. They wanted to "like" who was buying their "baby". That way they could mentally part with it. I can understand this sentiment if you live in your house for a long long time, and have very many fond memories in it.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
....their is real value of buyers who can really close a deal and how fast.
