Love letters to home sellers were once a popular strategy for buyers trying to gain an edge in a bidding war. The idea was to let the seller know all the ways a prospective buyer would “love” the home, including such things as raising a family in the home or caring for a prized garden. Those letters are now a no-go, as they can lead sellers to run afoul of the Fair Housing Act, which prohibits any form of discrimination, even that based on familial status.
According to Zach Wichter, writing for Bankrate, a new type of letter is now being used in some areas. This one is typically written by the real estate agent, and promotes the professional team who will handle the sale for the buyer. This could include information about the expertise of the mortgage broker or real estate attorney, and or information about the strength of the buyer’s finances. It’s a strategy designed to help buyers stand out in a competitive environment.
Another great strategy? Partnering with a real estate team who can give you the best possible edge in buying a home. Vanguard Realty Associates is up to the task!