Where can i get a Letter of Intent for a lease property?

In Leasing Property - Asked by Christopher P. - Apr 21, 2010
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Answer(s)

David M.
Broker/Agent
Mason, OH

Are you simply asking for a template or do you have something more specific in mind?
Lauri Sullivan
Prudential Commercial Cincinnati

Apr 21, 2010
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JW N.
Tujunga, CA

I have seen so many and no particular style seems to be the norm, but you can get a good idea of one at the web reference below.
Here is a template, but you did not mention what the LOI was for. That does make a difference. This one is for escrow, but can be changed to work for other stuff. If you are into the bulk REO market stop now. Many have lost years chasing that unicorn
Escrow Letter of Intent
(Must be on Escrow Company Letter Head)
Date:
Expiration: This letter is considered null and void at the
end of business of (4 business days from date)
Designation: This letter is considered null and void
for any party other than correspondence from
George Tran of Synergy Capital Partners LLC
Reference: (Escrow Account ID – Optional)
To Whom It May Concern:
I am the escrow officer for ESCROW/Title Company. I certify that I have procession of a Letter of Intent from my client and have verified that they have the funding to close on the order below. This letter and proof of fund will be released to your institution upon instruction from my client.
Order amount: (ex. $200,000,000)
LTV: (ex. 55% or a range 50%- 54%)
Brokering Fee Points: 3 points.
Condition of Property: (minor, moderate, high rehab)
Property Type: (ex. SFR, Notes, Commercial, etc.)
Price range: (ex. $200,000 to $600,000)
Preferred Geographical Location: (ex. Dallas, Phoenix, Las Vegas)
Cash or Financed: (ex. $100 Mil Cash Liquid within our company or hard money)
Exit Strategy: (ex. Hold/Lease or Resale)
Future Intentions: (ex. Single Order, Periodic, Monthly)
Escrow Signature
Escrow Name
Address
Email
Phone Number

Apr 23, 2010
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Juan G.
Broker/Agent
Ontario, CA

I have formal templates, but for you if you rarely do leasing then just do the follwoing. Use your standard letterhead, In the (RE:) put the name of the property. Write language discussing who the parties involves are and this is a preliminary letter of intent and does not constitute a lease. Then have numbered bullet points that mention the following.
1. Tenant Name (corporation or individual that will be signing the lease
2. Trade Name
3. Proposed Use (i.e. florist, dry cleaners, etc.)
4. Premises and Suite number/s
5. Size of suite
6. Term of lease (in months)
7. Proposed rate of base rent
8. Annual escalations of base rent or rent schedule
9. NNN costs (place disclaimer that it is an estimate and subject to change)
There are about 10 more bullet points i use. But that is those are the core of what you need to add. The person on the other end will figure it out. As a landlord rep, i see alot of LOIs with horrible structure. At the end of the day I want to get deals done, so I end up holding the hand of the tenant broker.

Apr 29, 2010
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