I found the perfect house for me to do my first wholesale deal with, due to its price in relevance to its location and the property values in the surrounding area. However, I am very confused as to how to fill out this Letter of Intent (LOI) from the seller.
Questions I Have:
1. Do I put my name down for the "Deed" or will this be left blank until the contract is assigned to my buyer?
2. Should I include my finders fee in the "Offer Price" section on top or does this come into play later on?
3. Should I do "Quit Claim" or "Clear Title?" What is the difference? Is this something I should ask the seller about in relevance to the home's financial history?
ANY help at all is greatly appreciated- Don't know where else to go for this but BP. Thanks guys!
@Patrick Buzzo Is the property SFH or Multi? I am a wholesaler in Miami area, if you are planing to do the same you need to have the right to sale it, I will use a legal approved contract, you can ask a Realtor to help you with the offer, ask for 0 days for inspection, better with business days, on that period you will have the time to sale it