Sign Kansas Banking Letter Of Intent Now

Industry sign banking kansas letter of intent now

okay so now we will do the letter of intent you want to do this letter of intent when you want to do multiple offers most sellers like multiple offers so this letter of attempt you can have a lease purchase out for a cash offer and the owner finance offer it just all depends on the deal every deal is different so let's take a property down in Florida that we're working on of course you want to change the date today is the 14th you want to put the seller name here police the Cellini [Music] we just named John Doe retina address for Glenn meadow bra state that will be Lake land Florida then you come down and put the full address again now up top if it was there they but you they had a different mailing address you'll put that right then you put the property address down here I'm not gonna put the address cuz this is a crash student deal but just give you the other just under you want to put your zip code okay let's go down this letter is set forth the basic terms upon which America's investment specialist the buyer would be willing to personal book reference property the terms include a purchase price amount of earnest money deposit inspection rights purchase contingencies along with closing date are set forth below so this was all gonna be stating this letter of the tip this property we're working on is worth about 80,000 so we're gonna come in at a may old price let's see what the Mayo is on this one and remember Mayo is ARV times seven percent minus repairs work with a property let's do the Mayo on that 80,000 point seventy percent equals 56 mine is stated property is about 20 and repairs so we can only offer this guy 36,000 doesn't be the maximum allowed offer it we're gonna rehab it if we want a wholesaler we gotta be below mail so mail 36,000 we want a wholesaler we gotta be at least had 30,000 of 25,000 I like at least make a minimum of 10,000 per deal but you know to each his own so we will click purchase price 30,000 just a small spread on this you got about five six thousand dollars turns the cash purchase price 30,000 get you down payment there will be no down payment because this is a cash purchase so you want to take all this additional information out well you know what we can leave this here no no no we gotta take it up so who take all this up click purchase price 30,000 all cash okay no contingencies continuous you mean you're not gonna get us or hey once you get out of country hey I need this fix I need to repair this I need this need that that turns sellers off so you got a cash cash offer no contingencies second offer would be only financing now we want a finances for if they want to give us terms then we can give them close to their price so you either want times they want all you know they want a full price you you can give it to them but on terms it's only finance at least purchase but if they want to get cast out then they gotta meet the mayor requirements especially 2008 over ten thousand repaired so now that's the first offer offer one we're gonna kind of offer to purchase price we'd give them a little more sis is gonna be patient with us on the financing we can give them 60,000 down payment will be about 60,000 on house we'll get about 10% on which be six times a week at it's got two thousand down payment on fundable mortgage payment that's a small house we probably do let's say about 500 a month let's try because you always you rather be lower than to high so let's try me at about $400 a month principal payments you we do principle payments on it which mean that every payment we make every month will go towards that principle which will pay the house down soon now some people gonna want me interested but hey they don't ask for don't mention it so we're gonna do principle payments only $400 a month for five years terms of this on the furnace let's say five years then at the five years we have a balloon balance but I'll have an agent law so we could take this up dude is this ten business days closing within 30 days so this is for you let it in folks we have the cash offer boom cash offer get it on the finance off and you just want to make some favorable turns but you want to make sure they good turn where you can work with and it won't be so hard to get a buyer in there take a tendency prevalence appraised the current purchase price of buyer has a right to read negotiated counsel contractor doing the due diligence telling must provide access to property for a potential buyers appraisal home inspectors and contractors it would be attended by the into a purchase and sale agreement only before 10 day and 10 business days you it's pretty much eager go down make a sign in name date you sign yours is by sending over two is it so you got your letter of intent right change the date and your date you change all this information seller information address purchase price make sure you change that I can actually take this up this doesn't have to be very big it looks a lot better right here you want to put your own company name of the Land Trust that you're using right here we have our company name one of our company name so you use your company name or the trust whichever one you want to buy in but never buy your name that's it it's your letter of intent you you