So we just bought another vacant house from an out of state owner for exactly what we offered. Here is the “Love Letter” that went with the offer. We also use this letter on any offer we make through MLS. This letter went on our personal letterhead and I sent her the letter and the offer via email. Of course what you say in the letter will vary by what kinds of repairs the home needs.
“Thank you for the opportunity to take a look at your home. We understand that the offer we are making is below your asking price for this property but we would really love to own this home and we would be responsible for all of the repairs so there would be nothing more for you to do to the home.
The home has been nicely updated but it has a couple of issues that need to be addressed. The biggest problem with the home is the condition of the roof. We would like you to consider our offer based on the following.Home needs:Possible Termite Treatment (last inspection was 2014)New Roof (our roofer looked at the roof and gave us a bid today)Replace screens on windows (Several are missing screens)Replace Exterior doors
We are cash buyers, we are buying the home in as/is condition so you don’t have to do any other repairs to it and we can close as soon as you would like to. You don’t have to worry about someone who is trying to get a conventional type of loan, especially with the condition of the roof. And we are ready to close when you are. We think this home is wonderful and we thank you for looking at our offer. We are hoping to be able to purchase this lovely home even though our offer is lower than your asking price.
Sincerely,Kathy and Jay Kennebrook”
Now when you are using the Love Letter there are certain perimeters that must be met the real estate investor. For example it can’t contain any questionable language, it can’t be racial, political or religious in any way. Just make it short, sweet and to the point. Use a font they can read.
Don’t use industry jargon like “I can take the home subject to the existing mortgage” Sellers don’t understand what that means. Don’t insult the seller and don’t insult the home. Using this letter will definitely increase the number of properties you are buying! For all the information you need on finding all the deals you need for your real estate investing business, check out my website at www.marketingmagiclady.com. My Marketing Magic System will provide you with 12 very targeted direct mail campaigns and 24 additional marketing techniques with samples of all of them.