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How to Produce a Letter of Intent (LOI) For a Bulk REO Order

If you are on the lookout to acquire a bulk REO(Real Estate Owned) from a vendor, you have to present a Letter of Intent (LOI) to the vendor as a initial phase. An LOI ought to be created by the consumer and will make the initial effect on the vendor. A skillfully created LOI ought to contain the next information:

  • Name of the Organization the Consumer is representing
  • Address of the Corporation
  • Name of the Buyer’s Mandate
  • Dated within the final 30 times
  • Info on the geographical area the place home is wished-for
  • Order price tag the consumer is ready to pay back including service fees
  • Type of home wished-for (household, industrial and many others)
  • Degree of rehab suitable (very low, medium, large and many others)
  • Owing diligence time period the consumer is ready to acknowledge
  • Closing time right after because of diligence
  • How the consumer will display Evidence of Money (POF) to the vendor

Sample Letter for LOI

Authentic Estate Firms, Inc.
123, Major Avenue
San Francisco, CA 94101
(123) 456-7890
November 27, 2009

To Seller of Information,

This LOI from Real Estate Firms, Inc. is for the goal of getting a portfolio of REO attributes that meet the standards specified under:

  • Purchaser: John Smith
  • Buyer’s Mandate: Jack Jones
  • Portfolio Value: 50Million USD
  • Discounted Value: Up to 57% of BPO + four% Expenses
  • Geographical Region: Northern California Only
  • House BPO Variety: $250,000 to $one,500,000
  • House Type: Single Family Residence (SFR)
  • Degree of Rehab: Mild to Medium
  • Owing Diligence Time period: seventy two hours
  • Closing: Inside of 48 hours right after because of diligence
  • Evidence of Money: Tender POF from Lawyer hooked up
  • Call: Buyer’s Mandate on shown cell phone quantity

Please get hold of Real Estate Corporation’s Inc. on receipt of this letter for further correspondence and completing all paperwork.

Signed and Dated by Consumer:
Signed and Dated by Buyer’s Mandate: