Zillow Advice: Buying Process - Putting in a offer please help

Dear Encino:A letter ...

Thu, 19 Feb 2009 01:25:00 GMT

Dear Encino:

A letter of "goodwill" may help.

Then again it may not:)

It depends on what your offer is, and if seller think's that they may get a better offer.

If it's a "lowball" offer, the seller may not even look at the letter. If however, the seller believe's in their mind that it is a "serious" offer or "something we can work with", then writing a "goodwill" letter may help.

It certainly can't hurt.

Johnny

All you need is a pre-approval ...

Fri, 20 Feb 2009 22:14:00 GMT

All you need is a pre-approval letter from a reputable lender.

Your agent is several years ...

Fri, 20 Feb 2009 21:52:00 GMT

Your agent is several years behind the times. At the moment, the seller is desperate for any offer and your offer amount, your prequalification and amount of earnest money are all that really matter.

Are there competing offers? Give better proof yours is a good offer.

It would also depend on who ...

Fri, 20 Feb 2009 21:05:00 GMT

It would also depend on who the seller is. If you are submitting an offer on a REO (foreclosure) the bank won't care or probably even read. It is all about their bottom line.

Wow! Your personal ...

Thu, 19 Feb 2009 18:46:00 GMT

Wow! Your personal financials and your credit scores should not be given out to your agent, the listing agent, the sellers or anyone else, except your Mortgage Lender. What you need is a "pre-approval" (not pre-qualified) in theis process, the lender reviews all of that information sumbits to an Automated Underwirting system and issues a letter stating you are pre-approved (under specific terms) to purchase a home. It should not have anything personal on it other than your name.

The only letter that really matters ...

Thu, 19 Feb 2009 02:15:00 GMT

The only letter that really matters is your prequalification letter. The banker has to check your income and FICO scores in order to give you a prequalification letter, so that covers proving you can buy the house. If you wanted to produce proof of your downpayment funds or money in the bank that would certainly help.

Making your offer face to face so that you can tell the seller how much you love the house and how happy you would be to live in it would help. I believe you can only influence their feelings about you and your love of the home face-to-face.

While I would write a letter, ...

Thu, 19 Feb 2009 01:58:00 GMT

While I would write a letter, I wouldn't write one as your agent suggested. There's no template, per se, and you should write in your own handwriting rather than typing it. The people from whom you are buying the house would like to know how well you are going to take care of their home - for example: they have a really lovely garden, and you promise to take very good care of it. They would also like to know why it's the best house for you - use some fantastic feature of the house that caught your eye and gush about it. Also, if you children, it's a good way to "pull at their heart strings" about how this will be a wonderful home for them - and list the reasons why. I have found that when buyers write such letters, they often get a house for less than they thought otherwise possible, and many times they didn't have the highest offer for the house. While there's no guarantee you'll get the house, you will have a much better chance than if you didn't.