If you have been following along on the blog, you have likely read the 2016 forecast on both the buying and selling side of Lake Tahoe real estate. You have also likely read suggestions on how to stand out to a seller when there are multiple offers and you are in the thick of a bidding war. One of those suggestions was sending a personal letter on why the Tahoe Keys home for sale is perfect for you. We have covered this aspect of appealing to the seller as the buyer, but what about if you are the seller on the receiving end? Or you are the buyer who sent the letter and wants to know how it is perceived? Read on.

First, let me say that sending a heartfelt letter is absolutely a great way to stand out to a seller when your offer is one of many. It humanizes the person behind the contract. Typically, in a business scenario, it is best to leave the personal side out of it. However, a home is a very personal thing. A lot of personal things happen behind those doors creating a personal attachment. Especially if they have raised families, or in the case of a second home market like Lake Tahoe, shared a lot of family vacation memories in the Lake Tahoe home for sale. If a buyer shares the same values and goals as the seller, some sellers could feel inclined to take a lower offer. Some sellers will want their long time family home to go to another family instead of a vacation rental or a long term rental. Some. But not all. In fact, sellers should keep these things in mind before they get swayed by emotions.

 

 

 

 

Price Goals. Every seller has one. After all the commissions and expenses are paid, make sure you are close to this number. Especially if you have multiple offers coming in. For buyers, keep in mind that pricing will still need to be competitive. This will help give you a further edge if you are already on the seller’s radar.

Making the terms work for you. In some scenarios, the other aspects of the agreement could be more important than price (such as contingencies, closing date, etc.). If a quick closing is what you need, waiting for your preferred buyer to secure a mortgage loan may not match up with your timeline. On the other hand, it could work great if you still need to find another home for sale in Tahoe Keys and need more time.

Buyer qualification. If the buyer has only been preqaulified, don’t get too excited. You want a buyer that has been preapproved (there is a difference!) with a strong financial profile.  Let’s be honest, they can put together the most heartfelt letter in the universe, but if they aren’t already preapproved you could miss out on some other really great offers by putting energy into them first.

Down payment size could matter. While we are on the topic of money, let’s chat down payments This is not always a sign of financial strength, but in most cases it is. If you feel like this initial payment isn’t big enough, chat with your agent about the industry standard. If it less than the usual amount, dig deeper to qualify the buyer.

Inspections & Back Ups.  Almost every home inspection has some kind of unexpected surprise to both the buyer and the seller. These last second expenses could throw a wrench in the mix. Be prepared to negotiate. Also chat with your agent about back up offers. You may not have chosen their bid initially, but some buyers and investors are ok with being “second best”.

If you are considering selling your Lake Tahoe home, make sure you choose a qualified Tahoe Keys Realtor who can walk you through this process. For more information, call Peter Delilli at 530-308-4331.