What real estate love letters are and why they’re not a good idea.
Today I’m going to talk to you about love letters. Yes, love letters. In real estate, a love letter is when a buyer writes a letter to the seller along with their offer. The letter will talk about why they want to buy the house and share some information about themselves.
They’re not illegal yet in Illinois, but they’re illegal in other states because of fair housing laws. Why is that? Well, my wife and I bought a home last year, and we knew it was a multiple-offer situation. We found out later that a buyer who didn’t get the home filed a complaint against the seller’s agent. They had included a picture of themselves in the offer, and they felt the seller picked us over them because of their heritage.
“Love letters are a huge risk for both buyers and sellers.”
As a buyer, there is not as much risk, but as a seller, you can get into even more trouble if you’re accepting love letters and pictures of the buyer's family. That’s why a lot of states are banning them.
If you want a second opinion on your home, let me know. Also, I can give you a fresh-eyes analysis if your house has been sitting on the market. As always, if you have any other real estate questions, I would be happy to answer them. Just reach out to me via phone or email.