How to Write Letters (Formerly The Book of Letters) Part 30

SELLING REAL ESTATE

There are two phases in the writing of letters concerning the sale of real estate. The first phase has to do with the presentation of the proposal in order to arouse sufficient interest in the mind of the prospect to cause him to inspect the property. Comparatively little real estate is sold without personal inspection. The exceptions are offerings of low-priced building sites in distant sections of the country. These are sold sight unseen--else, as a rule, they would never be sold at all. But such real estate selling is more apt to be in the cla.s.s with fake mining stock than with legitimate buying and selling, and therefore has no place here.

The second phase of letters on real estate comprehends the closing of the sale. For instance, let us say that John Hope has gone so far as to look at a property. He apparently wants to buy the property or is at least interested, but the price and conditions of sale do not exactly suit him. He is so situated that he does not want to talk personally with an agent, or perhaps lives too far away. At any rate, the sale has to be closed by mail. The fact which most concerns the buyer of real estate, provided he is otherwise satisfied with a property, is the t.i.tle. The t.i.tle is the legal term by which is denoted the exact character of the owners.h.i.+p. Quite frequently an owner may believe that he has a clear t.i.tle when, as a matter of fact, his t.i.tle is derived through some testamentary instrument which gives him a holding only for life, or perhaps trusts have been set up in the will which are a charge upon the property, although all of the beneficiaries of the trust have been long since dead. There are many hundreds of possible legal complications affecting the validity of the t.i.tle and it is usual to-day to have t.i.tles insured and, in agreeing to buy, to specify that the "t.i.tle must be marketable and insurable by a reputable t.i.tle insurance company." The word "marketable" as here used means a t.i.tle which is unquestionable. The prospective buyer must also be careful to specify that the t.i.tle shall be "free and clear" and that all taxes shall be apportioned to the day of settlement. Otherwise the buyer would have to take t.i.tle subject to a lien of any judgments or other liens of record and also subject to unpaid taxes.

A real estate transaction may be very complicated indeed, and it is wise for a buyer to take precautions to the end of seeing that he purchases a piece of real property rather than a right to a lawsuit. Most letters offering real estate for sale are written in response to inquiries generated by an advertis.e.m.e.nt. The letter offering the property is designed to bring forth a visit from the inquirer. Therefore only the information which seems best adapted to bring about that visit should go into the letter. The temptation is to tell too much, and the danger of telling too much is that one may inadvertently force a negative conclusion. It is better to keep down to the bare, although complete, description rather than to attempt any word painting. The description is best supplemented by one or several photographs.

The important points to be summarized are the situation of the house, the architectural style, the material of which it is constructed, the number of rooms, and the size of the lot, with of course a description of any stable, garage, or other substantial out-buildings. These are the elementary points of the description. One may then summarize the number and size of the rooms, including the bathrooms, laundry, and kitchen, the closet s.p.a.ces, fireplaces, the lighting, the roofing, the floors, the porches, and the decorating. The most effective letter is always the one that catalogues the features rather than describes them.

_An agent asking for a list of property_

JONES REALTY CO.

HARRISBURG, PA.

April 3, 1924.

Mr. James Renwick, 126 Pelham Road, Westville, Pa.

My dear Sir:

I am constantly having inquiries from people who want to buy property in your immediate vicinity, and I am writing to learn whether you would give me the opportunity to dispose of your property for you, if I can obtain an entirely satisfactory price. If you will name the price and the terms at which you would sell, I should be glad to put the property on my list and I believe that I can make a sale.

It would be helpful if I had a good description of the property and also one or two good photographs. Of course if you list the property with me that will not bar you from listing it with any other broker unless you might care to put it exclusively in my hands for disposal. My commission is 2-1/2%, the same as charged by other brokers in this vicinity, and I know from experience that I can give you satisfactory service.

Very truly yours, Henry Jones.

_From an owner instructing an agent to list property_

126 Pelham Road, Westville, Pa., May 6, 1922.

Mr. Henry Jones, Jones Realty Co., Harrisburg, Pa.

My dear Sir:

I have your letter of May 3rd and I am entirely willing that you should list my property for sale, although I do not want a "For Sale" sign displayed nor do I want the property inspected while I am in it unless by a previously arranged appointment.

I enclose a description and a photograph. I will take $25,000 for the place, of which $10,000 has to be paid in cash. I am willing to hold a second mortgage of $5,000 and there is $10,000 already ready against the place, which can remain.

Very truly yours, James Renwick.

_Selling a property by mail_

1437 Lawrence Street, Greenville, N. Y., April 20, 1921.

Mr. George A. Allen, 789 Fourth Avenue, Hillside, N. Y.

My dear Sir:

I have your letter of April 17th asking for further particulars on the property which I advertised for sale in last Sunday's _Republic_. I think that by inspecting this property you can gain a much clearer idea of its desirability than I can possibly convey to you in a letter. If you will telephone to me, I will arrange any appointment that suits your convenience.

The house is ten years old--that is, it was built when materials and workmans.h.i.+p were first-cla.s.s. It has been kept up by the owner, has never been rented, and is to-day a more valuable house than when it was originally constructed. It is three stories in height, contains fifteen rooms, four bathrooms, breakfast porch, sun porch, children's breakfast porch, a laundry, butler's pantry, a storage pantry, and a refrigerator pantry. It stands on a plot of ground 150 x 200 feet, which has been laid out in lawn and gardens, and in fact there are several thousand dollars' worth of well-chosen and well-placed plants, including many evergreens and rhododendrons. The trim of the house, including the floors, is hard wood throughout, and the decorations are such that nothing whatsoever would have to be done before occupancy.

I enclose two photographs. The owner's price is $60,000, and I know that he would be willing to arrange terms.

Very truly yours, R. A. Smith.

(Note--Essentially the same letter could be written offering the house for rental, furnished or unfurnished, as the case might be.)

49 Main Street, Albany, N. Y., October 8, 1924.

Mr. Henry Grimes, Catskill, N. Y.

Dear Sir:

The business property that I offered for sale in yesterday's _Republic_ and concerning which I have a letter from you this morning is particularly well suited for a specialty shop or any kind of a store that would be benefited by the pa.s.sing of large numbers of people before its show windows. It is located at the corner of Third and Main Streets with a frontage of thirty feet on Main Street and runs back seventy feet on Third Street. There is one large show window on Main Street and two on Third Street.

It is a three-story brick structure, solidly built, and the upper floors, if they could not be used for your own purposes, will as they stand bring a rental of $200 a month each, and with a few changes could probably be leased at a higher amount. They are at present leased at the above figures, but the leases will expire on January 1st. Both tenants are willing to renew. By actual count this property is on the third busiest corner in town.

If you are interested, I should like to discuss the price and terms with you.

Very truly yours, Henry Eltinge.

_Offering a farm for sale_

Goschen, Ohio, R. F. D. 5, May 5, 1922.

Mr. Harry More, Bridgeton, Ohio.

Dear Sir:

I am glad to get your letter inquiring about my farm. I am acting as my own agent because I think it is a farm that will sell itself on inspection and I would rather split the commission with the buyer than with a middle-man.

The farmhouse, barns, and dairy are good, substantial frame buildings, and they have been well painted every second season. There is nothing to be done to them. The house has six rooms and a large, dry cellar. The water is soft and there is plenty of it. The barn is 60 by 50; the poultry house is a big one that I built myself. The sheds are all in first-cla.s.s condition.

This farm contains 240 acres, two miles from Goschen, Ohio, and there is a state road leading into town and to the railroad. We have rural delivery and telephone. The land is high and in first-cla.s.s cultivation. The orchard has been kept up and there are well-established strawberry and asparagus beds.

You will not find a better farm of its kind than this one. I have made a living off it for twelve years and anybody else can, but the only way for you really to find out what the place amounts to is to come down yourself and look it over. If you will let me know when you expect to come I will meet you at the station in my automobile.

The price is ten thousand dollars. There is a mortgage of $2,500 that can remain, and, other things being satisfactory, we can arrange the down payment and the terms for the balance.

Very truly yours, John Hope.

_Accepting an offer_