- Sep 16, 2012
- Reaction score
It is. We did this though it was us and one other bidder. We stalked the seller to tug at the heart strings and he accepted our asking price offer.
My negotiations professor was a big fan of them. It won't trump big changes in money, but it could tie-break close offers and make a seller more willing to accept a "riskier" offer with more contingencies. Could also play a big role in in how sellers respond to inspection issues and concessions (at least in more normal markets). Numbers people (like me) tend to way underestimate the effect of these emotional factors on people's decisionmaking. Some might ignore it, but very rarely would anyone reject based on it.
I mentioned writing one to my realtor and she immediately called them "liar letters" and dismissed them unless the seller specifically requests them...
That said, I think they have potential value for us. This area doesn't like outsiders, hates the boom of Californians, and there's some visible peer pressure to "sell to a local". Fortunately my wife is moving to the area to take a job as a mental health professional that specializes in grief work...in an area that's currently feeling a big shortage in therapy services and happens to have unfortunately high levels of suicide and other deaths of despair. If the seller is a local (rather than an investor/vacationer), we could write a pretty compelling letter without lying.
edit: and speaking of stalking the seller...the seller of this house is a landlord, but they are a long term local who was widowed a few years ago when her mountain climbing anesthesiologist husband passed away in a solo adventure in central Asia...perhaps the town needs more grief services...
I think we discussed this a few months back in like October/November.ugh , the notion of informal gatekeeping, appeals to prejudices, etc in terms of community building makes my skin crawl
our conclusion was to include gratuitous dick pics in all offers to really seal the deal