Sending Letter Inquiring if Property is for Sale

[bean29]

I had a property saved on Realtor.Com that had a pending offer on it. The property is no longer listed for sale, but it does not indicate it is sold. It was initially listed in November last year, then re-listed in December. It appears that the listing expired.

The house was built in the 1930's and it has 5 acres.  It is listed for 282,000.  My guestimate is we would sink some significant $$ into it to make it what we would want our home to be.  We would probably add a Master Bath, and possibly remodel the upstairs.  I can no longer see the pics, but I don't think the roof was bad - It looks like a Cape Cod or a Bungalow, and we probably would have to update the second floor, which might very well necessitate a new roof.  We did not look at the property in person, but DH is an Insurance Agent, and I can't tell you how many times he has looked at lising pics and told me about problems with the property like a bad roof. 

He was looking at the setting/land - that is what attracts him, but the house was very charming - I would keep a lot of it as is. 

So, I looked up current property owner, and started a letter to them - this is what I have:

To Whom It May Concern:

When I found your property listing on Realtor.com it was listed as Contingent. I had shown it to my husband A and he told me he was very interested in the property. I now see that the property is no longer listed, but it does not show up that it was sold.

We really like the setting of the property and I was intrigued by the large kitchen, sun room and other beautiful interior features. We would anticipate having to sink some money into the property when we moved in.

If the property is still for sale, we would appreciate the opportunity to view the property in person and make an offer on it. You may reach me at (XXX) XXX-XXXX or my husband A at (XXX) XXX-XXXX .

Respectfully,


Bean29

Has anyone ever sent a letter like this, and what would you say?  I want to mail it out today or tomorrow.

Thanks.

[debthaven]

I wouldn't say "and make an offer on it", I'd say "and possibly make an offer on it" or "with the intention of making an offer".

Good luck!

[steph08]

To Whom It May Concern:


We came across your property listing on Realtor.com, where it was listed as "Contingent." We no longer see the listing, but your property also does not show as "Sold."

If the property is still for sale, we would appreciate the opportunity to view the property in person with the intention of making an offer.

My husband and I are intrigued by the property's setting, as well as the kitchen, sun room, and other beautiful interior features. However, we anticipate some remodeling work needing to be done to the second floor. 

You can reach us at (XXX) XXX-XXXX (Bean29) or (XXX) XXX-XXXX (Bean29's DH).

Respectfully,


Bean29 and Bean29's DH

[bean29]

May 3, 2019 14:31:42 GMT -5 debthaven said:

I wouldn't say "and make an offer on it", I'd say "and possibly make an offer on it" or "with the intention of making an offer".

Ok I will edit it. I think I prefer the second - I was trying to convey that we are serious about the property. I am not necessarily looking for a property. The setting for this house is gorgeous. DH wants more land, I don't, but we both really liked what we saw of this property. Our house would sell for $100,000-140,000 more than the asking on this one. We would end up with a higher interest rate, but I am ok with that in this case.

Thanks.

[Blonde Granny]

I would remove this sentence: We would anticipate having to sink some money into the property when we moved in.

You have given all the reasons you like the house and setting etc, then why slam them with having to sink money into the house? The only thing it would accomplish if I was the seller is ticking me off.

[debthaven]

I like the way steph08 edited it (above).

[bean29]

Thanks Steph - you edits sound much better. Edits made.

My ears are open to any other suggestions too! I knew you all would be helpful!

[debthaven]

I think Steph phrased that more diplomatically ... I think it's worth mentioning because the buyers won't have any illusions about getting top dollar if they know that the Beans realize the house needs some remodeling.

[debthaven]

Also, bean29 , I have a friend who did that. They eventually learned that the house was owned by a small local authority and wrote to them.

After getting our friends' letter the local authority DID decide to sell the house. But they put it up to auction, and our friends were not the highest bidders.

[saveinla]

May 3, 2019 14:49:11 GMT -5 Blonde Granny said:

I would remove this sentence: We would anticipate having to sink some money into the property when we moved in.

You have given all the reasons you like the house and setting etc, then why slam them with having to sink money into the house? The only thing it would accomplish if I was the seller is ticking me off.

Because that is the truth. Even though there are some good things, there are also some bad things that we have noticed and we don't want you to increase  the price just because we love the house. 

[bean29]

May 3, 2019 14:54:28 GMT -5 saveinla said:

May 3, 2019 14:49:11 GMT -5 Blonde Granny said:

I would remove this sentence: We would anticipate having to sink some money into the property when we moved in.

You have given all the reasons you like the house and setting etc, then why slam them with having to sink money into the house? The only thing it would accomplish if I was the seller is ticking me off.

Because that is the truth. Even though there are some good things, there are also some bad things that we have noticed and we don't want you to increase  the price just because we love the house. 

The reason I mentioned it is because it is a house that is c1930, and the property seems to easily be worth the asking price.  If someone could not close the deal, they probably did not have enough money to fix potential issues - a house of this age could have electrical, plumbing and possibly roofing issues, if someone let it fall apart, they probably did not have the funds to do 50,000-100,000 in repairs.  I like the house, I would not start over but I anticipate throwing some significant $$ into it.

I am willing to pay their former asking price, and maybe a bit more, but as I said, we would need to update it to be happy there. I also don't think it has sewer and I believe it has a well. DH normally avoids anything with a mound system, but I don't think he cares in this case.

I had already edited my wording to Steph's more diplomatic "we anticipate some remodeling work needing to be done to the kitchen and the second floor".

[Tiny]

May 3, 2019 14:54:28 GMT -5 saveinla said:

May 3, 2019 14:49:11 GMT -5 Blonde Granny said:

I would remove this sentence: We would anticipate having to sink some money into the property when we moved in.

You have given all the reasons you like the house and setting etc, then why slam them with having to sink money into the house? The only thing it would accomplish if I was the seller is ticking me off.

Because that is the truth. Even though there are some good things, there are also some bad things that we have noticed and we don't want you to increase  the price just because we love the house. 

I, too, would remove the bit about anticipating sinking money into the property -- that is for the "negotiation" of price part IF they decide to make an offer.    

[Tiny]

May 3, 2019 15:03:57 GMT -5 bean29 said:

May 3, 2019 14:54:28 GMT -5 saveinla said:

Because that is the truth. Even though there are some good things, there are also some bad things that we have noticed and we don't want you to increase  the price just because we love the house. 

The reason I mentioned it is because it is a house that is c1930, and the property seems to easily be worth the asking price.  If someone could not close the deal, they probably did not have enough money to fix potential issues - a house of this age could have electrical, plumbing and possibly roofing issues, if someone let it fall apart, they probably did not have the funds to do 50,000-100,000 in repairs.  I like the house, I would not start over but I anticipate throwing some significant $$ into it.

I am willing to pay their former asking price, and maybe a bit more, but as I said, we would need to update it to be happy there. I also don't think it has sewer and I believe it has a well. DH normally avoids anything with a mound system, but I don't think he cares in this case.

I had already edited my wording to Steph's more diplomatic "we anticipate some remodeling work needing to be done to the kitchen and the second floor".

That's not the only reason... they might have given up on trying to get a 203B loan (FHA loan that takes into account the "repairs" to a house.)  I hear the paperwork and hoops you have to jump thru can be daunting - especially if you have a banker/realtor who is not familiar with the process.       

Also, the house/property may have appraised for less than the asking price (hence the need for a 203B loan).     OR perhaps the mortgage lender has deemed the house "uninhabitable" and wouldn't do a mortgage on it (the buyer needs to have cash).       


I'm not talking you out of the house.   I would definitely see if the owner is willing to sell and if you can view the property.    I would think the seller might be more willing to compromise on the price - since there will be no realtor fees (3 to 6% of the selling price) that they will have to pay.      

[bean29]

May 3, 2019 16:37:19 GMT -5 Tiny said:

May 3, 2019 14:54:28 GMT -5 saveinla said:

Because that is the truth. Even though there are some good things, there are also some bad things that we have noticed and we don't want you to increase  the price just because we love the house. 

I, too, would remove the bit about anticipating sinking money into the property -- that is for the "negotiation" of price part IF they decide to make an offer.    

I wanted to show the draft letter to my boss, he is a real estate agent, but we deal with "Commercial" properties, but he is gone already. Noted, I will discuss with my husband and we will decide what to say. Like I said, I just wanted to convey that our offer will not be the extent of our financial resources.

[debthaven]

Unlike Blonde Granny and Tiny I think that part is VERY important. Because yes you'll pay more if you want it and get a reasonable price, but no you're not stupid, you're not going to overpay (much) for a house even if you want it.

It seems clear that you and your DH really want the property. But "knowing" you from these boards, it's also clear that you will NOT be willing to overpay, or not by much.

So why on earth would you opt to communicate "OMG we love it so because of X, Y and Z!!!" without ALSO appearing as the reasonable, intelligent people you are, who are ALSO aware of the downsides of that house?! That's just common sense.

The property has been listed at least twice, yet hasn't sold. So bean29 is in a position to negotiate. By how much? No clue. I don't know, and neither does she, yet.

But no house is perfect, and ignoring the imperfections is just plain stupid IMO. If the house was perfect, it would have sold. 

 

[GRG a/k/a goldenrulegirl]

I would just ask if it is still available for sale and, if so, when can you see it.

None of the other stuff (intriguing features, necessary repairs) matter until you decide to make an offer which you can’t reasonably decide until you see the property.

It’s way too soon to show all of your cards. You’re not trying to win a bidding war, just see the house. JMHO. YMMV.

[oped]

May 3, 2019 17:11:14 GMT -5 GRG a/k/a goldenrulegirl said:

I would just ask if it is still available for sale and, if so, when can you see it.

None of the other stuff (intriguing features, necessary repairs) matter until you decide to make an offer which you can’t reasonably decide until you see the property.

It’s way too soon to show all of your cards. You’re not trying to win a bidding war, just see the house. JMHO. YMMV.

This.

[souldoubt]

I like Steph's wording but on second thought I agree more with GRG.  Some of the comments remind me of the letter our agent asked us to write when we've made offers on places with multiple offers to appeal to the buyer.  You're reaching out to the seller so they know you're interested.  If it's available and they want to sell then they'll respond accordingly.  We had our place listed last year contingent on us finding a place.  We were under contract but never found anything and after extending our period to find something twice we cut the buyers lose and went off market.  Anyone watching our place on MLS/zillow/realtor would have seen it go from available, to pending then off market without being sold.  At least 20 realtors have tried getting a hold of me in the last 11 months via phone and mail thinking our place didn't sell.  Luckily most of them got the hint when I didn't respond but some haven't as I even got a call 2 days ago from one who has tried contacting me a few times. 

[jelloshots4all]

My friends would walk past a house that wasn't for sale.  They put a note in the mail box stating how much they loved the house (don't believe they had ever been inside).  The note stated that if the owner ever wanted to sell to contact them.  I know they stated that they wanted to raise their 2 daughters there, but it was very informal.


They got the house.  Don't play your hand.  Just tell them you would be interested in speaking to them if they want to sell.


Deal with everything else later

[Knee Deep in Water Chloe]

Yes, I've sent letters like that. 
No, I don't think you should include so much conversation. 
Is the owner willing to sell the house? That's really the only question you need to ask in the initial letter. 

The one time we did send such a letter, we included what we would offer. 
We ended up not getting the property. The property was listed after we sent the letter. We offered again via the agent. Someone else out bid us. We were okay with it. 

[bean29]

Our last house was a foreclosure. Current house is only “ new” house we have lived in. My husband will have a good idea of condition of house, when we actually look at it. We would still be interested in the land even if we had to consider the house a tear down, but I don’t know how much it would cost to build a new house either. I want to physically see house before I name a price. Right now, asking looks fair. We finished upstairs and basement in 1st house. Finished 3rd floor in 1st rental. Redid basement in 2nd rental. Rehabbed 1st office property. Rehabbed 2nd office property. Did all flooring, painting and about 80 feet of 4”high retaining wall. Landscaped 2 properties, finished basement in current house with permits. Also rehabbed a house for my in-laws.

I don’t want to name price I will pay till I walk through it. Discussed with DH, I will edit letter and take out reference to house needing work.

Thanks again for your suggestions.

[tallguy]

My friends would walk past a house that wasn't for sale. They put a note in the mail box stating how much they loved the house (don't believe they had ever been inside). The note stated that if the owner ever wanted to sell to contact them.

I received a letter like that two years ago.  I didn't respond because I have no interest in ever selling.  I'm here forever.  The day after I received the letter someone showed up with a fully-typed purchase-and-sale agreement on the hopeful buyer's behalf.  Didn't convince me.