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Writing a Personal Letter to a Home Seller when Buying a House - YouTube
Channel: Treasure Valley Dave
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- Hey, do you remember
sending a love letter
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to that one special person?
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Let's talk about that next.
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Hey, Treasure Valley Dave here.
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No, not Dr. Ruth, we'll talk
about love letters today,
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but not that kind.
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So why would you consider
doing a love letter
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and what is a love letter?
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Well, a love letter is a
personal letter from the buyers
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to the seller to create
a connection with them
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to say how much they love this
house and the reasons why.
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If the seller has, you know,
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fun feelings for this house too,
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there might be a connection there
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between the buyer and the seller and,
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that would be great for you
if you're the buyer because
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then the seller might be
more disposed to go ahead
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and pick your offer over somebody else's.
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Maybe somebody else is going
to just tear the house down or
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turns out parking lot or completely gut it
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or make it into a business or something.
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But you wanna just live
there with your family
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and raise the kids and hear
that big tree in the backyard
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or the tire swing, just
like the sellers did.
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So a love letter in that case, you know,
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could really make a difference.
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So does everybody write love letters?
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Well, no, they sure don't.
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There's cases where it could be done
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and there's cases where
it's just not really needed.
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Let's say the seller is like an estate,
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and the people actually
live there are past,
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and the real sellers have,
you know, no connection.
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Or maybe the house was, had been a rental,
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and the seller really has
no emotional connection.
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So in that case,
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love letters probably
not gonna mean anything.
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But let's say that you're coming in,
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and you're feeling your love with money.
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You're gonna go 10, 20
$50,000 over asking,
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the love letter really isn't
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you're not going after the emotional angle
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you're going after the financial angle.
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So you're sending mixed signals there
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with the emotional love letter
and then just a, you know
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down and dirty, given you a
bunch of cash type of a thing.
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So in that case, love letter
probably isn't necessary
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but it's on those occasions
where to get that edge
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against other competition
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you wanna make that personal,
emotional connection
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between the buyer and the seller.
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Does it work?
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It can.
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Is it something that you should do?
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Maybe.
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So when does it work?
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If the seller is a person
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the seller has been someone that's lived
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in the house for a long time and
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they have a special love and
affection for that house,
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and they're probably sad
that they have to be leaving.
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They're gonna appreciate
a family that comes in
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and is gonna love the
house as much as they do.
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It's very great when it works out
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but there's a couple things
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that we do need to be cognizant of.
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And that is HUD,
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housing and urban development
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branch of the federal government.
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They've come out and said
that you can do a love letter
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but you can't violate HUD rules.
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You can't come in there and say,
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I like this house because
it's close to the school.
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I have kids, I have a family.
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This house would be great for us,
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while that may be absolutely true.
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And that may be compelling
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to both the buyer and the
seller, federal government says
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you can't say that because
you would be discriminating
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against somebody that doesn't
have a family, your kids
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or something like that.
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So why does HUD have these rules?
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Well, you know, I suppose
at the end of the day,
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it's all well-intentioned
with making sure that
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people aren't excluded or
discriminated against, you know,
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maybe you don't have a family
and you'd feel discriminated
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against if, you know, two
people, the buyer, the seller
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both had families and they had
that, that connection there.
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So you say off, I'm being
discriminated against
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I don't have a family or maybe you belong
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to a different church
than say the seller did.
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So it's, it's just something
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those kinds of categories,
those protected categories
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we just steer clear of
in the love letters.
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So I know you guys wanna
play by the rules, right?
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So what could you put in a love letter?
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Well, I'm not giving you advice on that
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but I've heard that as long
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as you're sticking with stuff
specifically about the house
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maybe you could say I've always
wanted a two storey house.
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And your house is a two storey house.
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Oh, please that's great.
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Talk with your real estate
agent in depth to make sure that
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you know, there's not
gonna be a HUD violation.
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And I learned this one just
recently too and not firsthand.
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Thank you very much.
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Is that not only can the agent get busted
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with a HUD violation and we're
talking thousands of dollars
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but even if you go behind the agent's back
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and give a love letter to the seller,
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you personally are in
violation of HUD rules
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and you can be hit with
thousands of dollars
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of fines from HUD.
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They have, I used love letters
successfully in the past,
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I sure have a live representative sellers
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that have gotten those letters
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and it really did help figure out exactly
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which offer to go with, you know
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multiple offer situation,
which is very normal nowadays.
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But I just wanna caution
you to be very careful.
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If you found this video helpful at all,
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please go ahead and like
share and subscribe.
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And don't forget to hit
that notification bell.
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So you don't miss any in the future.
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And as always, this is
Treasure Valley Dave,
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looking forward to helping you get home.
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