Letter of Intent Vs. Contract

[David Rupp]

Hey Everyone,

A little background for this question. I am wanting to send every seller that responds to my marketing a written offer. I want to send them a simple form letter thanking them for their time, and attach a 4 page contract that is filled out with their details. I have heard other investors say this works very well for them.

My concern is with properties that I haven't seen. Should I not be concerned about it, and if they sign it, and I realize the house needs a lot more work then expected, just renegotiate? Or would it be better to use something like a LOI. Does anyone have any ideas