Sample Letter of Intent (LOI) by sG4krvY


									                                      Sample Letter of Intent (LOI)
                                        (On Buyers Letter Head)

Re: LOI for Bulk REO package

To Seller,

We understand that you and/or your affiliates are the agent / owner of a portfolio of Bulk REO’s
situated in various states in the continental USA (“REO’s”). Our company, Your Company Name,
is interested in purchasing bulk REO’s as described herein. Please note that this letter of intent
will expire 15 days from the date listed above.

Accordingly, please accept this formal expression of interest (“LOI”) for the acquisition of a
portfolio of single family residence REO’s from the beneficial owner thereof under the terms and
conditions set forth as follows:

Actual Purchase Amount:               Up to one million dollars ($1,000,000)

Discount Amount:                      Price should be around .40 to .50 on the Dollar

REO Characteristics:
      Location Preference:            Nationwide

        Type of Product:              Real Estate Owned

        Collateral Requested:         Single Family Residences

        Range of Property Value:       $100,000 to $200,000

        Property Condition:            Zero to light rehab

        Title/Liens:                  All properties must have clean and marketable titles.

        Miscellaneous:                1) That the assets are located in the United States.
                                      2) That all terms and conditions in the purchase agreement
                                         will be mutually agreed to.
                                      3) That any asset not in compliance with these contingencies
                                         may be eliminated from the portfolio.
                                      4) That the terms and details of this transaction will be
                                         considered propriety information.

Due Diligence Period:                                       Upon receipt of this LOI, Seller will
                                       deliver to Buyer a tape which includes all of the assets to be
                                       purchased. Buyer shall have 72 hours to review the tape. Buyer
                                       shall deliver to Seller a purchase agreement within 10 days of
                                       delivery of the tape. The purchase agreement shall contain the same
                                       or substantially the same terms for the purchase of the assets as set
                                       forth in this LOI. If the buyer does not deliver a purchase
                                       agreement within 10 days of delivery of tape, the Seller may market
                                       the assets to another purchaser.

Escrow                                Escrow will be held by the Escrow Agent

Closing:                              Closing shall occur within Fifteen (15) calendar days of the
                                      delivery of a purchase agreement to Seller. Buyer shall have
                                      the ability, at its discretion, to accelerate the Closing.

Intended Use:                          Buy and Hold; Buy and Sell

This Letter of Intent is exclusive and confidential. This Letter of Intent is not a purchase agreement
and creates no binding obligations on any of the parties. Notwithstanding the preceding sentence,
should the parties move forward with the transaction contemplated in this LOI, the transaction
shall be consummated on terms that are the same or substantially similar to those contained in this

We are looking to establish long term banking relationships and acquire quality bulk REO’s at a volume
discount. Please forward purchasing procedure documents when possible.

                                                                  Company Name

                                                                  Authorized Signor

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