Posted by Astor
on 1/20/2003, 9:24 pm
209.83.73.243
George, what's your advice on the following one page Offer Letter on company letterhead. Basically to quickly get the broad offer on the table without all the legalese detail.
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Because of the need for additional information several details remain to be completed, but we are willing to purchase the property under the following scenario;
1. $185,000. Subject to financing. Close in 60 days.
2. Contract for sale. We assume current mortgage payments.
3. $5,000 down. Remaining equity payable in monthly installments with entire prinicipal balance due and payable 5 years from closing. Principal and interest to be determined.
4. This offer shall terminate if not accepted by 22Jan2003, 6:00pm.
5. If acceptable to seller we will show good faith by givne a $3,000 earnest money promissory note payable upon close of escrow.
6. Everything is negotiable. If you must sell, and we want to buy, let's get together to find a workable agreement.
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Comments? Changes? Scrap it?
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