What you need to know: LOI submissions
Buyers: After you. have successfully sourced the asset of choice we will need to prepare the offer package this will include three of the following.
1. letter of Intent (LOI) should you not already have one available. (required)
2.Proof of funds (POF).
A. Bank statement showing at least 40% of the asset value ask.
Signed letter from a bank stating client financial profile with recent date and valid contact or
letter from CPA validating net worth.
3.Proof of Assets. List of other properties.
4. Deposits: as explained below (required)
A fifteen (15% of broker fee base) percent deposit will be required with your offer, all other offers will be considered back up “offers”. Upon acceptance of the offer, a fifteen (15) day review period before contract signing. At contract signing you will be required to deposit ten (10%) percent of the remaining balance will need to be put into escrow. After which milestone the due-diligence period if any will then begin and the process will proceed according to the terms of the accepted, letter of intent (LOI).