| If you are looking to purchase a bulk REO(Real Estate | | | | San Francisco, CA 94101 |
| Owned) from a seller, you have to provide a Letter of | | | | (123) 456-7890 |
| Intent (LOI) to the seller as a first step. An LOI should | | | | November 27, 2009 |
| be written by the buyer and makes the first impression | | | | To Seller of Records, |
| on the seller. A professionally written LOI should | | | | This LOI from Real Estate Corporations, Inc. is for the |
| contain the following information: | | | | purpose of obtaining a portfolio of REO properties that |
| - Name of the Company the Buyer is representing | | | | meet the criteria specified below: |
| - Address of the Corporation | | | | - Purchaser: John Smith |
| - Name of the Buyer's Mandate | | | | - Buyer's Mandate: Jack Jones |
| - Dated within the last 30 days | | | | - Portfolio Price: 50Million USD |
| - Information on the geographical area where property | | | | - Discounted Price: Up to 57% of BPO + 4% Fees |
| is desired | | | | - Geographical Area: Northern California Only |
| - Purchase price the buyer is willing to pay including | | | | - Property BPO Range: $250,000 to $1,500,000 |
| fees | | | | - Property Type: Single Family Residence (SFR) |
| - Type of property desired (residential, commercial etc) | | | | - Level of Rehab: Light to Medium |
| - Level of rehab acceptable (low, medium, heavy etc) | | | | - Due Diligence Period: 72 hours |
| - Due diligence period the buyer is willing to accept | | | | - Closing: Within 48 hours after due diligence |
| - Closing time after due diligence | | | | - Proof of Funds: Soft POF from Attorney attached |
| - How the buyer will show Proof of Funds (POF) to | | | | - Contact: Buyer's Mandate on listed phone number |
| the seller | | | | Please contact Real Estate Corporation's Inc. upon |
| Sample Letter for LOI | | | | receipt of this letter for further correspondence and |
| Real Estate Corporations, Inc. | | | | completing all paperwork. |
| 123, Main Street | | | | |