Letters -- Getting me $50K off the purchase price!!

[Juan Diaz]

I just thought I would share my experience in getting some fantastic price reductions when I'm in contract on properties. What I'll sometimes do is get a property in contract at a certain price, and then get an official or unofficial inspection on the property, and come back to the owner looking for a nice price reduction. And I've had some success stories! I got a buyer to forego dropping their offer $100K. I got a seller to give me a $50K credit. And I credit this to being able to write persuasive letters that clearly outline my case. I thought I'd share a few of the successful letters with you all. And please, let me know if you all have similar experiences!

Example 1:

Hello,
First off, we are excited to have this opportunity to do business with you on the property located at XXXXX in XXXXX. We appreciate the love and care that has been shone to this property, and understand that as the next purchasers of this house we will be solemnly entrusted with the task of maintaining and repairing this house.

We are up to the task of maintaining and beautifying this house,are are excited for the opportunity. For the most part, it's in good shape, but it does need a little work. With that in mind, we believe that the following work is absolutely necessary:

• Demolish and rebuild garage: $41,952
• Plumbing repair & update: $9,896
• Electrical repair & update: $12,343
• Foundation and structural repairs: $30,135
Total: $94,326

This is a significant amount for us to pay, and we are hesitating with continue on with the property as priced. We don't want to pass the entire cost of these much-needed repairs onto you, but we believe that it would be more than fair if you were willing to give us a credit in the amount of half of the total value of repairs. We are thusly requesting a credit of $47,163 on the purchase of your property so that we are able to continue with this transaction and maintain and repair this property to the standard that it requires.

thank you so much for your time and consideration.

Sincerely,

Juan Diaz

Example 2:

Hello,

I just wanted to say that I loved your house. I’m a licensed contractor, and have years of experience working with houses, so I’m used to seeing all kinds of houses, horrible houses, ugly houses, houses with an obscene layout, houses with the most gorgeous Victorian fishscaling, you name it. And I have to say that I was impressed with what lies beneath on your house. It has a stately frame, and wonderful bones that could easily create something special.

I was walking through the house with my kids, telling them all about the wonderful things we could do with this house. They were staring at me, looking as if I was telling them that I was going to do magic. I described how wonderful this house could be, and their eyes lit up. A sparkling kitchen, warm and friendly, filled with family. A spacious family room, to wrestle around in, and play games. And most importantly, their own bedrooms!

You see, I’ve got three wonderful children who have lived in [this town] all their lives. A, the youngest, who’s quite the handful, a pre-schooler and excited about most everything! B, my creative middle child who loves to do art and think of new and wacky ways of doing things. C, my multi-athlete boy who loves to do sports, any sports, all the time. Even though we’re moving out of our current house in xxxx, they’re all getting excited for this house. You know how excited kids can get about something? Well now they’re asking me “Dad dad! When can we move to that house!” They’re excited to have a new place they can show off to their friends at [local school]—A wants to bring the house for Show and Tell!

My wife of xxx years, D, loves the house as well. She understands what we can do with it, and is whole-heartedly behind our plans to purchase this house, bring out the wonderful original details, and yet transform the inside to match our personalities. She knows how hard I’ve worked to be able to afford this house, and how I’ve always worked hard to provide for our family.

I know that my family loves this house, and that we’d treat it with the respect that it deserves. As I mentioned before, I’m a licensed contractor, so I’m very familiar with houses and am completely comfortable purchasing this house as-is. We’re selling our own house, it’s in contract, but we’re financially stable enough to afford purchasing this house even without our old house selling. If we’re accepted as the buyers, my offer will have no contingencies, I will need to do no inspection, and I can let you stay in the house until May. You can rest assured knowing that I have the technical background to give your house the improvements it deserves.

I love [location X]. I’ve loved living here, and my family love it as well. It would thrill me beyond belief for you to accept my offer, and to give me the opportunity to stay in [location X] in a wonderful house.

I look forward to your response.

Juan Diaz