How to make LOI standout

by a searcher from University of Pennsylvania - The Wharton School

7 months ago

Any advice on how to make an LOI standout if there are 10+ offers on a deal besides strictly price?

6 likes
252 views
26 comments

searcher from INSEAD

Certainty of close is very high for good brokers who have seen too many deals go south and break down.

The key is how you show you will close and that usually comes from establishing your credibility with all parties.

1 month ago | like reply | 0 likes

intermediary from University of Colorado at Boulder

The more professional, the better the LOI. I regularly get LOIs on my listings where the buyer looks like they drafted the LOI the night before. Find a solid template and use it. I think timelines are important, but be aware that if you anchor the seller on a timeline and then don't deliver, the seller is going to get upset. I've had to convince more than one seller not to walk when promised timelines are not met by the buyer. If you are using an SBA loan, plan on at least 90 days and it can creep closer to 120 days. If you are using an SBA and promise###-###-#### days to close, good luck!!

3 months ago | like reply | 0 likes

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