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I would include the letter with your offer. Otherwise it gets creepy. We submitted one with our offer, (50K over asking), but also got outbid (75k overasking on a 500k house).
This spring is MUCH crazier than last spring, because I was looking then. We are looking in the nice areas of Oakland, which I think is getting spillover from SF. All of the houses with yards, garages, sun, and good locations go instantly, with multiple offers. The duds sit.
I agree having a dog skews the rent/buy ratio. You pay more for the privilege.
I am hoping things calm down when (if?) more inventory arrives, or interest rates rise. Until then, we are priced out for what we are willing to pay.
BayArea
2012 Apr 25, 6:07am
I schmoozed as hard as I could
Better hope she likes ass-kissing schmoozers, j/k j/k
I don't think it would hurt to send her the letter to her mailing address, but I'd probably avoid showing up again. Sounds like you had a good chat and could leave it at that.
I've been experiencing the same thing with the multiple offer situations in 2012. Just remember, although inventory is down, list prices are up, and houses aren't sitting on MLS as long as they did 1 year ago, prices are in fact flat.
Look for some of my other recent posts if you are skeptical (data shared).
I have two pending offers (actually lost one last week where there were 25 offers, lol). Hopefully we each get some good news.
I assume you have an agent presenting the offer.
I found that with these competitive situations it helps to have an aggressive agent in there working it so the sellers know you are a serious offer. Then if they want to sell to you, but you are not the lowest offer your agent has established the communication with the other party. So if it is just a matter of a few extra bucks or a change in the condition of your original offer your agent is right there getting them a quick answer. You may not want to go the distance with what they are asking, but you want to make the decision. Not the seller.
Don't mail anything in. Your agent should present it!
A nice family picture and a good story always helps. Good luck with your search.
1sfrenter
2012 Apr 26, 4:10am
Well, we are putting the personal appeal in with the offer, and can only hope that the selling agent isn't a scumbag and will present the seller with all the offers, not just the highest ones.
If you want the house make sure that your agent has at least had a face to face with the other agent. Many agents my just fax it in with no follow up. You want your agent to communicate to the seller that you are a terrific family for the house and the neighborhood AND you are the best and easiest deal- even if you are not initially. You want them to want you in the house. Good luck. Isn't buying a house fun?
second off, if the seller has an agent, your agent CAN'T communicate directly with them, without permission from them first. That is what people hire an agent for...
Thanks for the clarification, I meant "communicate" as in have your agent get your story to the buyer via the agent.
PockyClipsNow
2012 Apr 26, 6:30am
dont forget the best way to 'outshine all other offers' is to use listing agent to write up your offer. its amazing how nice a double commission will make your offer look to the listing agent.
I meant "communicate" as in have your agent get your story to the buyer via the agent.
I meant seller, not buyer.
1sfrenter
2012 Apr 26, 7:00am
first off, agents generally email offers
My agent has a PDF of the letter to the seller.
RentingForHalfTheCost
2012 Apr 26, 7:04am
I am working on a letter (yes with pics of our family and our cats and our garden) to encourage her to consider our offer.
Sorry, highest offer will win. Unless you found the only person with a soul left in SF. Good luck.
MAGA
2012 Apr 26, 10:26am
It would be interesting to view your letter. Is it on-line?
Outside of Kalifornia, people don't normally write "please let me buy your house" letters.
leo707
2012 Apr 26, 11:17am
Sorry, highest offer will win. Unless you found the only person with a soul left in SF. Good luck.
Yeah, regardless of how much the owner may like you it is unlikely that they are going to "gift" you thousands of dollars.
That said my sister bought a house in the $850k range, and attached a nice personal letter with the offer. I am not sure if she put pics of here family. Her offer was accept and she was told that it was 1-3k bellow the highest offer (she told me the exact number I just don't remember it).
Anyway, good luck!
We're putting an offer on a house and met the owner during the broker's open house. Had a good long chat, knew a few people in common, and she just retired from the same school district where we currently work.
She was pretty straightforward about the fact that she did not want to sell to investors or landlords, as she has lived in the house since it was built in 1959. Our youngest daughter was also with us and we had a nice chat about cats and gardening, etc. (ie., I schmoozed as hard as I could).
There will be multiple offers: inventory is ridiculously low in San Francisco, the place was crawling with people during the "broker's open house", and we have already been overbid on 2 other similar houses by all-cash offers.
I am working on a letter (yes with pics of our family and our cats and our garden) to encourage her to consider our offer.
My question is: should I include this in our offer or just drop it in her mail slot? Or ring the doorbell and hand it to her (and introduce myself again)?
Obviously, if she gets offers that are 50K over ours it wont matter a whit what we do.
Doesn't hurt to try, right?
Any suggestions on writing up a kick-a$$ sell-to-us letter??
What's bugging me is that 6 months ago this multiple offer scenario was not happening. Judging from the comps, last fall the list price for this house would probably have been the sale price.
We only just started looking in earnest in January, after an insane rent hike and multiple visits from an increasingly obnoxious landlord.. now I wonder if we should just put up with his shenanigans for a little while longer (13 years is enough already and rentals that accept kids and dogs are very hard to come by)and see if this craziness is just a temporary spring bump.
Did this happen in 2011 (spring bump)? I wasn't looking so I don't know. Was everyone calling bottom last year this time?