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Dear Sellers,

Posted by Rona Fischman  August 16, 2010 02:10 PM
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Sam Schneiderman, broker owner of Great Boston Home Team has been in real estate since 1984. As one of the first buyer’s agents in Greater Boston, he understands buyers. Today he conveys their sentiments in this letter from buyers to sellers.

Dear Sellers:

We are serious buyers.

We’ve been watching the market for a year. We’ve spent hundreds of hours online researching how to buy and finance a home. We’ve had advice from parents and friends. We know that there are lots of little details that could cost us big money if we miss them, so we researched and interviewed several buyers’ agents and signed with one we trust. A reputable lender has approved us. We’re eager to buy and can close whenever because we’re now month-to-month tenants so that we can be flexible buyers without lease restrictions.

As we look at homes, we wonder what most of you and your agents are thinking. Do you think that we will pay a lot more for your house just because you converted half of your two-car garage into a tikki bar and have an aging swimming pool? There’s stuff growing out of your gutters, your front steps are dangerous and there’s mold in your shower. The smell in the basement isn’t encouraging either. Some of you haven’t tidied up your homes in ages. Candles don’t hide the smells.

We love your neighborhood, so we checked your mortgage like we do on most homes that we’re curious about. You owe close to your asking price. That’s a problem because you’re asking $50,000 more than the identical, cleaner, more updated, house across the street sold for 3 months ago, although it lacked the garage tikki bar and pool. (FYI- we loved that house, but weren’t ready to buy then.) We might buy your house at a realistic price and renovate, but your agent says that you won’t just give your house away (for a realistic price in today’s market?) so we’ll move on.

We are informed and realistic. We are not going to pay more for a house in this market than your neighbor got for theirs. We may pay a small premium for condition, updates and goodies, but don’t ask us to reimburse you in full for a fifteen-year old swimming pool (that will need work soon) or your expensive six-year old windows.

At the least, we expect safe, working systems that will work for at least five years, a structurally sound, leak free house and practical floor plan or appropriate concessions to get to that point.

It should be no secret to you that we’re looking at other homes, both online and off. In fact, we’ve seen so many that we’ve lost count. We’ve been inside every home in town in our price range. We probably know the market better than you do.

We are cautiously motivated. We are not going to get burned like others before us.

We are your market.

Yours Truly,
Today’s Buyers

Readers, what would you add if you were the buyer? How would you respond if you were the seller?

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.
Rona Fischman is a buyer's agent who provides a look at the local housing scene, from basements to attics.
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