Submitting a Offer- W/out a Realtor

[Kane Griffin]

Hello all, 

I found a property in Texas City, TX that has a potential for great cash flow once it is rehabbed. They are asking $120,000, which I personally think is to high after evaluating the comps and considering how outdated everything is. This property will need a full rehab from top down, it still has all of the original finishes from the 70s. I am planning on offering 90k which is low for the property but it gives room for a reasonable counter offer. I must add that the seller is motivated to sell. I plan on writing this offer letter myself and would like to get opinions from the professionals here on BP. What are the key components to this letter that I must include to save myself legal issues and money as well as making it look professional?

[Wayne Brooks]

@Kane Griffin Is this an mls listed property or a FSBO? If listed, you are just urinating into the breeze...the listing agent Has to use the local NAR approved forms. If not, and you want to write your own, look at the local realtor purchase contract....all those pages are in there for a reason.