who should prepare offer letters
Started by tbontb
over 16 years ago
Posts: 56
Member since: Dec 2008
Discussion about
I gave basic instructions to my (buyer) broker to make an offer, e.g. price, and reason for the offer price. My broker then asked me to write the letter myself. Isn't this suppose to be his job? In the case of my broker's incompetancy, I think I should take the matter to my own hand going forward. Can anyone provide a sample offer letter? I am not sure about all the contingencies part. Or should I ask my lawyer?
In Manhattan we don't put contingencies in the offer. It is just price/closing schedule/financial structure/back up info to support the financial structure. Contingencies come later, between accepted offer and contract -- but if you're in the suburbs and need them in your offer letter, you could send something like below.
PS. It's your broker's job to write this, not mine. Tell him/her I want some brownies.
ali r.
{downtown broker}
Dear John Doe:
I just loved my recent visit to 1600 Pennsylvania Avenue, #2C. I would like to make an offer of $575,000.
I am astronaut with a salary of $230,000 per year, and I am eligible for a commission bonus of $20,000.
I plan to put down 20 percent of the purchase price in cash, and I have been pre-approved for financing by Wells Fargo; please see the attached letter from my mortgage broker.
I am available to close as soon as August, but am flexible, and can also close later, at the seller's convenience.
This offer is subject to financing and inspection contingencies, but I am sure based on the information supplied by listing broker Brenda Starr to my buyers broker Peter Parker that we won't have a problem there .. I look forward to hearing from you!
Sincerely,
ME.
Thanks a lot for the info.
My broker is fired!
Hire, Ali!
Ali is the goddess of Manhattan Real Estate. My apologies to all you other contestants.