Dear Asset Manager,

Dear Asset Manager,

First of all let me thank you for taking the time to review our offer. We realize that it is your job to garner the best possible offer for your bank and that you are likely reviewing multiple competitive offers. We have previously been outbid by cash offers and investors and are saddened that we have not been able to get an offer accepted on a home.

We have two small children- ages three and one. We went into contract on a short sale back in May as we were looking for a home where we could have a large yard, pool, and a swing set for our girls. We were told in July that the file had progressed to Phase 2 and with that information we then rented out our current home to highly qualified tenants. It seemed everything was falling into place.

Unfortunately we recently received information that although we are now 120 days into contract we are no closer to the finish line than we were the day we wrote the offer. There is an even greater chance the short sale will either not get approved or it will be countered out of our reach. So we would rather buy a bank owned home. We have been trying to find a permanent home and settle our lives but it most definitely is not a buyers market unless you have cash.

Although we do not have cash outright we are a "good as cash" offer. We do already have full credit underwriting approval and are ready to close. The only outstanding conditions on our file are fully executed contract and acceptable appraisal. Given our short term rental situation we are highly motivated to get into a home.

So what does this mean for you? It means that if we write a contract with a close of escrow date that we will close on or before that date without asking for any extensions. Our loan will not fall apart at the finish line due to tenuous credit or the possibility that we may no longer qualify. We are not obtaining max financing and we are rock solid borrowers.

As my husband and I both work in the wholesale mortgage industry we are very familiar with the urgency of closing loans. In addition, our short term lease expires October 13th so of course you can see that we are just as interested in closing quickly- same as a cash buyer would.

Sadly with cash buyers and investors again buying up the market it has been harder than you can imagine to find a home. Our intention is to buy a home that we can raise our family in. We absolutely loved this home and hope that you find our offer competitive enough to accept.

Warmest Regards,
Potential Buyers