LOI Wording Examples

Below are a list of example Letter of intent wording.

Example 1: The proposed purchase price is $250,000.00, of which $200.00 would be deposited
with Seller, or Sellers agent, upon acceptance of a binding Option and Lease Purchase
Agreement. Buyer would pay $2,000.00 to the Seller at closing and the balance, if any, or
$8,000.00 whichever is greater to Seller on or before 120 months after close of escrow or
when Buyer resales subject property for a profit whichever is sooner. Buyer will then continue
to submit satisfactory payments to Seller’s current mortgage holder until Buyer resales
or refinances subject property. Seller will also retain fee simple title to property during the
duration and will receive all tax notices and notices and/or assessments from any and all
associations associated to subject property. Buyer will satisfy all tax notices and notices and/
or assessments from any and all associations associated to subject property upon proper notification by Seller. Buyer will also be responsible for maintenance, repairs, and/or improvements
at subject property up to the first $350.00 per incident per month.

Example 2: The proposed purchase price is $269,000.00, of which $200.00 would be deposited
with Seller, or Sellers agent, upon acceptance of a binding Purchase Agreement. Buyer
would pay the balance, if any, to Seller on or before 84 months after close of escrow or when
Buyer resales subject property for a profit. Buyer will then continue to submit satisfactory
payments to Seller’s current mortgage holder until Buyer resales or refinances subject property.
Buyer will also retain fee simple title to property during the duration and will receive
and satisfy all tax notices and notices and/or assessments from any and all associations associated
to subject property. Buyer will also be responsible for all maintenance, repairs, and/or
improvements at subject property with no limit.

Example 3: The proposed purchase price is the current balance of Seller’s first position Deed
of Trust, of which $200.00 would be deposited with Seller, or Sellers agent, upon acceptance
of a binding installment sale agreement. Buyer will then continue to submit satisfactory
payments to Seller’s current mortgage holder and a payment of $200.00 per month to Seller
until Buyer resales or refinances subject property. Seller will also retain fee simple title to
property during the duration and will receive all tax notices and notices and/or assessments
from any and all associations associated to subject property. Buyer will satisfy all tax notices
and notices and/or assessments from any and all associations associated to subject property
upon proper notification by Seller. Buyer will also be responsible for maintenance, repairs,
and/or improvements at subject property up to the first $350.00 per incident per month.

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