Putting Offers in with Letters of Intent

Putting Offers in with Letters of Intent

Real Estate Agent · Member since 2015 · 5 posts · 3 votes

Hi,

I have a question about using letters of intent (LOIs). Most of the folks in my area (Spokane), as far as I know, seem to be just submitting offers using the local MLS forms. Its seems like using a letter of intent would be much more efficient. I was hoping I could get some feedback on this notion. Thanks.

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  • Real Estate Coach · Coeur D Alene, ID · Member since 2013 · 458 posts · 295 votes
    10y

    I imagine your main obstacle would be how serious the sellers thought you were.  It never hurts to try it out.  Each city will have its own culture, and sellers will respond to different marketing efforts differently.

  • Buy & Hold Owner · Redlands, CA · Member since 2015 · 5k+ posts · 2k+ votes
    10y

    LOI is nice, 'should be reliable' but is unenforceable. Make an offer if you are serious.

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