Would you guys and gals be so kind as to review my offer letter to an REO listing agent. Be my guess to rip into it. Thanks for your help. Also, FYI I'm double closing on these deals.
My name is _____________. I wish to submit an offer to purchase the above referenced property under the terms stated below.
o The total purchase price of property is:__________(this is negotiated upon appraisal of said property)
o The initial earnest money accompanying this offer is $1,000.00. Please see attached Promissory Note. Earnest monies for the purchase of this property will be paid at the closing of such purchase at Buyer’s title company Old Republic Title Company.
o The balance of the Purchase Price will be paid in Cash at closing.
o The Closing Date will be on or prior to 30 days after acceptance of offer, at which point the Buyer will take possession of the Property.
o The Buyer's obligation to purchase the Property is contingent upon the completion of a home inspection satisfactory to the buyer to determine the overall condition of the Property. The cost of the home inspection will be covered by the Buyer. The results of the home inspection must be satisfactory to the Buyer and the inspection performed 10 days after acceptance of offer.
o Escrow fees and closing costs for the said property will be paid by the buyer.
o Buyer shall pay for owner’s title insurance policy, and all County and City transfer and document preparation fees
Please get back to me before 1:00 PM on __________, January _____, 2010, or I will go ahead with one of my other offers. I look forward to hearing from you.