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You still have not addressed on how does the seller know that the buyer is telling the truth. WVREDLEG said it correctly in his/her post.
You have actually backed up my statement on money is everything. If you have 2 buyers who have the same bid, then of course you're going to counter to BOTH of them on who wants to up the ante. It does not matter if one person writes a better letter than another person.
If the buyer is out money, then so what? Buyers lose money in real estate deals all the time. That would only mean something to the buyer's agent.
I'm guessing that writing letters is one of your sales techniques and its bothering you that the majority of the people on here don't like them.
You still have not addressed on how does the seller know that the buyer is telling the truth. WVREDLEG said it correctly in his/her post.
You have actually backed up my statement on money is everything. If you have 2 buyers who have the same bid, then of course you're going to counter to BOTH of them on who wants to up the ante. It does not matter if one person writes a better letter than another person.
If the buyer is out money, then so what? Buyers lose money in real estate deals all the time. That would only mean something to the buyer's agent.
I'm guessing that writing letters is one of your sales techniques and its bothering you that the majority of the people on here don't like them.
I do not support your response to any of the topic. I strongly prefer a business approach to real estate, and keep the fun on the side.
It IS business. And, with business comes risk, for everyone. Emotions cloud risk and opportunity assessment.
How do you know that EITHER, or any, seller will consummate a transaction or is telling truth? Ever? Because they don't put you into a lather over a cover letter? That is pretty thin support for kicking an offer to the curb because you are "business-like."
Nope... consider you have two offers that are equal - one is someone you know isn't going to live in the house and contribute to the community (investor, llc, flipper, that sort)
-the other is something that writes a well crafted letter telling you how much they love the home, neighborhood and intend to live in the house
Offer number 2 is the winner no question. Unless of course you loathe your neighbors and want your home transformed into a rental, generic flip, or some lame mcmansion...
Quote:
Originally Posted by ConeyGirl52
Sometimes people have wonderful memories of the time they spent in their home. Sometimes people have a genealogic attachment to property that has been in their families name for a very long time. Back in the day, this type of home was referred to as the "Home place". It was the place that the several generations that followed stemmed from and visited throughout their lives. Kind of like a bird returning to the same tree year after year to nest.
Sometimes that large family and its many generations suddenly boils down to just an elderly couple, or a single heir who has already established a new home and life elsewhere; and they realize that they can't care for the property, or that care has become too much work for them, they will put the house on the market. Since their motive for selling has nothing to do with profit, and they have strong historical and emotional ties to the property, they are really not busting to sell, and might even fear that a new buyer will destroy that which they love so dearly and/or means much more to them than just an asset.
Lacking a quick-sell motivation based on money alone, they can hold out for top dollar; and just like a buyer may be looking for certain things in a home, they might be looking for certain things in the person they will sell to. There is nothing wrong with that, but it is something that someone who has moved quite a bit in their life, or descends from a long line of apartment dwellers may have little to no respect for. Not that they necessarily disrespect it, but it just hasn't been a part of their life.
This type of seller can be moved to sell to someone who they can envision raising children, horses, whatever - just like they did - in their beloved family home. They can even be swayed to lower their price point for someone projecting a similar love and respect for the land that they have.
The show "Love it or list it" displays this type of sentimentality all the time. The family loves the home they have always known, but have out-grown. The designer tries to rework the house so the family can stay, and the real estate agent tries to show the family how much more they could have if they move. I'm not sure if the statistics bear out to prove what I am about to say, but it seems to me, more often than not, the families end up staying.
"All you touch and all you see is all your life will ever be..." - Pink Floyd.
We have recently been forced (due to medical bills) to sell parts of the "home farm" that has been in our family for 100 years. We are SBO and you can bet that we carefully choose who we sold the land to. We turned down several offers for almost full asking price because we knew that they would not "fit the neighborhood" for various reasons (not illegal reasons) or because the agent was very, very secretive about who was buying and what they were going to build. Now, if they had offered full asking price, I'm not sure what we would have done but they did not so we did not have to worry about it.
Every buyer corresponded via email and also spoke with us on the phone numerous times before making their first offer. In some cases one of us, or a trusted friend, "walked the land" with the perspective buyer which allowed us to get to know them better (and vice versa).
Of course, this is a lot different from selling a house and you will be gone forever from the neighborhood because these neighbors will be/may be neighboring landowners of our family long after we are gone. Baring something quite unexpected my grand-children and great-grandchildren, and their relatives, will be celebrating the 150 year celebration of the "home 40" in 2066.
We have recently been forced (due to medical bills) to sell parts of the "home farm" that has been in our family for 100 years. We are SBO and you can bet that we carefully choose who we sold the land to. We turned down several offers for almost full asking price because we knew that they would not "fit the neighborhood" for various reasons (not illegal reasons) or because the agent was very, very secretive about who was buying and what they were going to build. Now, if they had offered full asking price, I'm not sure what we would have done but they did not so we did not have to worry about it.
Every buyer corresponded via email and also spoke with us on the phone numerous times. In some cases one of us, or a trusted friend, "walked the land" with the perspective buyer which allowed us to get to know them better.
Of course, this is a lot different from selling a house and you will be gone forever from the neighborhood because these neighbors will be/may be neighboring landowners of our family long after we are gone. Baring something quite unexpected my grand-children and great-grandchildren, and their relatives, will be celebrating the 150 year celebration of the "home 40" in 2066.
Heck, I'm just looking for a buyer who guarantees they won't mow my treasured crape myrtles down to 3 feet off the ground.
Seriously, I respect completely the approach you took. There IS more than money at stake for a great many sellers.
Nope... consider you have two offers that are equal - one is someone you know isn't going to live in the house and contribute to the community (investor, llc, flipper, that sort)
I love it when my neighbors sell to flippers instead of the people that can barely afford the house in the "as is" condition. The flippers come in, repair, renovate, add curb appeal and sell at a higher price to the kind of people with the means to purchase and maintain a nice house.
I'd certainly be willing to do my ex-neighbors a favor by selling to a flipper (who by the way are almost always local and will take their profits and invest in another nearby house). The only time I curse the flippers is when the county property revaluation comes in and taxes are another 40% higher...
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