Letter of Intent Help

[Julius Kerschinske]

The 3 hardest words in the English language are "I don't know." I'm here to say, I don't know, and I need help. My business partner and I have a property we're very interested in, and believe we can make a deal. This will be our first deal, and now we're like the dog that caught up to the car (we haven't bit it yet, but we can taste it).

We want to put together 2 proposals for the homeowners. A seller-financed offer and a traditional bank-financed offer (with a clause stating if we don't get the numbers we are out free and clear). The sales numbers would be slightly different, to account for the added headaches of traditional bank-financing.

I, frankly, don't know what to say in either letter. The numbers we'd like to offer are $152k for seller-financed and $148k for bank-financed.

Any help is greatly appreciated. Thank you!

[Adam Bradley]

Someone has also posted one here on BP.

https://www.biggerpockets.com/files/user/Hunter-SA/file/letter-of-intent-to-purchase-real-estate