LOI Draft for an Off-Market Deal

Charlotte, NC · Member since 2024 · 1 post · 0 votes

Hello BP Community!

Just trying to get started and feel, with the tools available, I may have found a good deal in my area. Any thoughts on writing an LOI, or would you suggest an offer? It's appears to be an off-market deal.

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Real Estate Broker · Minneapolis · Member since 2024 · 16 posts · 10 votes
2y
If you're in contact with the owner/seller directly, and you don't feel there is a lot of competition (off-market), might as well start with an LOI to lay out terms before drafting a contract.
If you need the offer to look compelling because other buyers are circling, a PSA would indicate more motivation on your part.
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Debbie FalesBusiness Member
Lender · Annapolis, MD · Member since 2018 · 141 posts · 47 votes
2y
Consider including a Proof Of Funds letter to bolster your bid. We offer a free customizable POF on our website when you sign up with us (at no obligation).
Good luck!
[email protected]888-444-3160
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