Together with the real property Buyer is also purchasing all of Seller s rights title and interest in all of the fixtures improvements leases maps reports plans and other such material is having to do with the Subject Property including all land use entitlements governmental permits and allocations and other such governmental and agency approvals as may exist concerning the WP. FORMS / 00246619. DOC. 3 FORM01. 086 Letter of Intent Page 2 property. In addition this offer to purchase includes...
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Hey everybody Frank Chen here with REI club.com oh nice I mean as a real estate investor today I got a quick video for you on tipster building a detailed letter of intent now I can all my videos everything I talked about I do include in the description below simply click show more and you can follow right along so by definition a letter and tennis pre in real estate is pretty much a document that allows you to communicate the most important parts or aspects of your offer now investors use letters of intent in this case let's use LOI okay to save time rather than having to complete an entire purchase agreement now you can just fill out some blanks especially if you've prepared a template what you're gonna be talking about today today and kind of set it out to as many sellers as you can't kind of just to see who bites now you can send out a lot more Ella wise faster than you can purchase agreements okay kind of the main benefit there now LOI seem a lot more official to say unsophisticated buyers but especially when agents are not involved but keep in mind that most agents don't really like LOI is because they're not really official okay now it's maybe a little bit later now they can either be handwritten or they can be typed it really depends on the formality of your situation say if you're dealing with a for sale by owner type home owner then you could just write on it back a piece of paper I'm just have them agree or say it's the more sophisticated type commercial property more with more talking terms then you can have a more formal out letter of intent that way okay but understand it otherwise are usually non legally binding so a seller can actually prospect other buyers even if they have already agreed to you now this is why speed of implementation is very important which I'm gonna talk about in just a few minutes but let's go and jump into the components of what needs to be included into a letter of intent I'd fluted 10 items the first item like I said this could be on a white piece of paper or you can type this handwrite it depends on whatever your situation is but the first component is your personal contact info or business information your name your contact info maybe your appeal box information your email this is for the seller to get in contact with you the next thing one space below is your to portion where you can include the sellers name and their address just to make sure they know this letter is intended for them okay and of course double-spaced down after that and the next thing is your brief Dear John explaining your intent to buy this where you say dear homeowner I have an interested cash buyer who loves your home or hey I'm interested in buying your home all cash because I'm sure you all we've all received letters like this in the past it only needs to be around two to three sentences no more than a paragraph short and sweet because we're spending more time on the part after this okay now right after your brief Dear John we're...