Are you thinking of selling your home? If so, there’s a recent trend you should know about. Some buyers are leaving sentimental letters to prospective sellers outside of their homes. It’s all part of an attempt to sway them towards accepting a relatively low offer.

They often state that the author belongs to a nice young family who’s always dreamed of living in the neighbourhood—but can’t afford to compete in a hot market. If you receive one of these notes, you may be wondering if it’s legitimate.

In this post, we’ll delve into what you should know about emotional letters from home buyers…

Buyer motivations

It’s hard to know the motives of someone who contacts you out of the blue. The truth is, a hot market often brings out speculators who will canvass homeowners in an attempt to get them to sell privately. In some cases, a buyer who claims that a given property is their dream will happily flip it for profit a few months later.

Of course, it’s entirely possible for a real estate letter that sounds heartfelt to be genuine. That said, it’s in your best interest to know that there are times when they’re not—and make an informed decision accordingly.

While you can’t know what a stranger is thinking, there are some potential signs that a letter may not be what it purports to be. For example, you may want to be wary of professionally produced marketing pieces (such as flyers) conveying these sentiments—especially if they don’t mention the name of your neighbourhood.

The risks

Of course, there’s a major downside associated with accepting a low offer based on a sentimental letter. Namely, you won’t get as much as you deserve for your home.

If you’re like many prospective sellers, you may not know just how much your property is worth. That’s especially true if you’ve been living in it for a long time—and don’t tend to keep a close eye on what’s happening in the real estate market.

It could also mean a lower deposit. If a buyer says they aren’t in a position to compete in the current market, they likely won’t offer you a high dollar amount at the outset.

Your best bet

For most sellers, the ultimate goal is getting the best price possible for their property. If you make this your aim, the money can be used to invest in a new home, travel, pay for your children’s education, or (if you’re in or nearing retirement) build a nest egg for the future.

Fortunately, working with a qualified and experienced local agent can help ensure that you’re in-the-know when you decide which offer to accept. To start with, a professional has the knowledge to help you determine fair market value for your property. By looking at recent sold prices for local homes like yours—and factoring in your goals—they’ll help you set the ideal price. Additionally, they’ll implement thorough preparations to make your home shine, helping to ensure that you attract quality bids.

Ultimately, the decision of which offer you accept is up to you. That said, you owe it to yourself to at least speak with a skilled local real estate agent who can make sure you know your options. Are you ready to get started?

For over 36 years, our clients have trusted us to minimize risk, offer unbiased opinions, and ensure their best interests are served. Contact us today to talk about your needs, by emailing us at info@christensengroup.ca or calling us at 416-441-2888 ext. 772.