Posted by Eric Fl on November 03, 2000 at 12:54:13:
Yes i’d like the book…if its no trouble! I also agree with you about the letter of intent because I’m in the works on a L/O with a women that I onlyhad here address…she also lives out og the area.
Thanks
Eric Fl
CS course has no letter of intent!!! - Posted by Eric Fl
Posted by Eric Fl on November 02, 2000 at 20:58:55:
The CS course I have has no letter of intent so I made my own and it has worked out OK. What should I include in the letter, What I mean is should it be a letter or contract or just saying “hey I want to buy your house”???
Thanks
Eric Fl
Re: CS course has no letter of intent!!! - Posted by Simp T.
Posted by Simp T. on November 05, 2000 at 20:41:44:
The course seems to be missing many other things like, phone number and addresses/websites to helpful govt agencies.
Re: CS course has no letter of intent!!! - Posted by Rob FL
Posted by Rob FL on November 04, 2000 at 20:20:12:
The only time I use them is on seriously lowball offers. I only do this on Realtor listed property. The reason why is so that the seller and the seller’s agent don’t get totally pi$$ed off at me. My letter is worded to sort of cushion the blow and get some response.
It basically says something like “I am interested in purchasing the property at 123 Elm Street. The offer is $50,000, all cash, subject to inspection, closing in 30 days. If this is acceptable or they wish to counter-offer, please let me know right away and I will immediately put together a contract. If they find the offer totally unacceptable, please let me know their bottom line and I will try to work with it the best I can. Thanks.”
Something like that.
That’s because!!! - Posted by JoeKaiser
Posted by JoeKaiser on November 03, 2000 at 24:42:36:
It rarely makes sense to use a letter of intent. The idea is to create fewer hoops, not more, and a letter of intent is just a useless intermediate step that should be avoided whenever possible.
Joe
Re: CS course has no letter of intent!!! - Posted by GC
Posted by GC on November 02, 2000 at 22:06:05:
I have a book by Jack Cummings, “Real Estate Financing Manual”, that outlined a letter of intent. Mr. Cummings indicated he used it to outline the basics of the deal such as Purchase Price, Down, Terms, etc… Basically whatever you would present in your verbal offer. He also included a spot to sign indicating acceptance of the terms of the sale as outlined but put in a notation that “this was not to be construed as a contract and only in the approval and execution of the final document of sale will there be a bona fide contract.” Using your own wording would probably be better if you intend to use a letter of intent. I had a copy of one I used before but I think it got lost in the shuffle when I moved. I’ll look for it though. Not sure if this helps you any. If you want a copy of the Letter from Jack Cumming’s book, E-mail me directly and I’ll get you one.