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Saturday, September 12, 2009
Letter of Intent - Order
This is the basic outline of the Letter of Intent (LOI) to submit for an order that you are interested in knowing more about. Most sellers will not discuss details without the LOI. Plus submit on your company letter head.
Letter of Intent – Order
(Submit on company letterhead)
Date: (Date order submitted) Expiration Date: (two weeks from order date)
SUBJECT: Letter of Intent – Reference # (file #)
FROM: (Name of Buyer or Buyer’s Mandate who has legal written signatory authority.)
To: Whom It May Concern
Please accept this letter of intent to purchase.
The outline for the initial order is as follows:
Preferred Geographical Location: (Example – Specific states included, or excluded; you can also list specific counties)
Property Type: (Example - SFR, Commercial, Multifamily-2, etc…)
Property Condition: (Example – zero to light, zero to medium, any)
Order Amount: (Example - $500M Purchase Price – Please ensure it is in purchase price amount, not BPO)
Purchase Price/LTV: (Price Point: Example 37 – 45 + 3) Negotiable contingent upon package quality
Price Range for Properties: (Example – $150K-$800K)
Additional Criteria:
Funding Method: (Example – Bank Wire)
Earnest Money Deposit: Negotiable
Fees: 3%
Due Diligence: Buyer shall have 5 days from the opening of escrow and the receipt of all documents in seller’s possession to complete physical contingences to closing.
Proof of Funds:
Contact Information: (Name of Bank or Escrow Company, Point of Contact, Tel #, Email, Address, and Reference Number)
Buyer Name:
Mandate Name:
Mandate Attestation: In the absence of disclosing the buyer name, I attest that I have legal written signatory authority on file with the buyer for transactions of this nature.
Company:
Address:
Email:
Phone Number (s): Mobile - Other -
Signature: ________________________________________
Date: ______________________
(LOI must be signed)
Letter of Intent – Order
(Submit on company letterhead)
Date: (Date order submitted) Expiration Date: (two weeks from order date)
SUBJECT: Letter of Intent – Reference # (file #)
FROM: (Name of Buyer or Buyer’s Mandate who has legal written signatory authority.)
To: Whom It May Concern
Please accept this letter of intent to purchase.
The outline for the initial order is as follows:
Preferred Geographical Location: (Example – Specific states included, or excluded; you can also list specific counties)
Property Type: (Example - SFR, Commercial, Multifamily-2, etc…)
Property Condition: (Example – zero to light, zero to medium, any)
Order Amount: (Example - $500M Purchase Price – Please ensure it is in purchase price amount, not BPO)
Purchase Price/LTV: (Price Point: Example 37 – 45 + 3) Negotiable contingent upon package quality
Price Range for Properties: (Example – $150K-$800K)
Additional Criteria:
Funding Method: (Example – Bank Wire)
Earnest Money Deposit: Negotiable
Fees: 3%
Due Diligence: Buyer shall have 5 days from the opening of escrow and the receipt of all documents in seller’s possession to complete physical contingences to closing.
Proof of Funds:
Contact Information: (Name of Bank or Escrow Company, Point of Contact, Tel #, Email, Address, and Reference Number)
Buyer Name:
Mandate Name:
Mandate Attestation: In the absence of disclosing the buyer name, I attest that I have legal written signatory authority on file with the buyer for transactions of this nature.
Company:
Address:
Email:
Phone Number (s): Mobile - Other -
Signature: ________________________________________
Date: ______________________
(LOI must be signed)
Friday, September 4, 2009
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