May 18, 2024 - Real Estate

The "homebuyers love letter" is a bad idea

Thomas Wheatley

Illustration of a mailbox shaped like a house. — Illustration: Maura Losch/Axios

Homebuyers are still offering over the asking price, agreeing to be responsible for needed repair projects and making other concessions to strike a deal on their dream home.

Yes, but: What shouldn't be on the list is the "love letter" to the current owner detailing your vision for their house.

Why it matters: Realtors warn that the letters can include details about a homebuyer's age, race, familial status and other personal details that could bias a seller's decision — possibly violating the Fair Housing Act.

What they're saying: "Sellers should select offers based on the buyer's qualifications and contract terms — not on a personal letter with a family picture," Atlanta-based real estate agent Vanessa Reilly of Domo Realty tells Axios.

The bottom line: Get preapproved for a loan, know what you want and try to have fun.

The "homebuyers love letter" is a bad idea

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