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The other day I recieved a random "Important fax" with a document titled "Letter of Intent to Purchase Real Estate". I'm sure some of you are probably familiar with this document, but it was a first for me to see one. So I check it out and it's like a pre-engagment ring with some basic terms spelled out..a pre-offer. 
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6 Comments on Good Try Buyer Investor..But Um No..Not Gonna Happen
Hello Cindy, It is like I receive these offers when a home is on the market more then 90 days. Weird, Cash deals also,
Hi Will, I guess they can try right? It just makes you wonder if they've been successful and a seller will say "oh...sure I'll take $150K less even though I would be in a foreclosure situation at that point.. Cash you say? well..Ok"
cash, loan, it's all the same at the closing table. Cash and a fast close might make a difference in multiple offers, but it doesn't make sellers or listing agents stupid. Unbelievable how so many people think it does.
Hi Cindy, I got one of those a few years ago! My sellers were just insulted, I thought the guy was crazy. I can't believe they have any luck with this? Seriously?
I find that Trulia part rather interesting! I wonder what's up with it??
Hi Tammy, the only difference with cash is that a seller doesn't have to worry about the sale falling through for lending issues, and and appraisal is not required. Is that worth $150K...nah..no way!
Hi Andrea, Fortunately, my sellers understood that it was an investor throwing it out there. They did get a good laugh though. I thought the Trulia thing was quite odd actually as well. I had to go through three numbers that were on the document to get back to this person. She did thank me for actually calling her back..I guess with these Intent to offers being as they are..they are used to just being ignored.