Note purchase offer in leiu of short sale


Note purchase offer in leiu of short sale.doc (81.1 KiB)




Note purchase offer in leiu of short sale

 

Your Company Name
Company Address
City, state, Zip
Phone: (555) 555-5555     Fax: (444) 444-4444

Date:

To: Institution Name
Attn: Loss Mitigation Rep. Name
Phone: (agency Phone)
Fax: (agency Fax)

RE:  Short Sale Request
Acct.# xxxxxxxxxx
Property Address  123 Main St;

Dear Mr. / Ms

Pursuant to our conversation on ______________(date) this offer letter outlines a discounted note purchase for an assignment of mortgage currently held by ___________________(Institution name).

We are prepared to tender a non refundable deposit of $____________(deposit amount) as good faith to have your investor postpone the foreclosure sale on the aforementioned property. We will “require” a signed agreement prior to sending funds. Based on our lending criteria we are submitting two offers which differ based on timeframes and funding dates.

OPTION 1- Close this Quarter

$_____________(deposit) non refundable deposit once we have an acceptance in writing. A note purchase amount of$_____________(purchase amt.). Funds transfer by _________________(date), before close of business. Total purchase price to your institution $_____________(note purchase amt + deposit amt.)

OPTION 2- Postpone Foreclosure Sale Date

$_____________(deposit) non refundable deposit once accepted.  Foreclosure sale postponed. Closing to occur on_______________________(closing date). Note purchase amount of $______________(Purchase amount). Total purchase amount to your institution $_________________(Deposit + note purchase amount)

Transaction details to follow with logistics once we have a response. We have calculations from our REO NET Ratio indicating holding time, Interest cost, fees and property condition that justify the offer price.
Calculations are available upon your request. Please let the investor know we are prepared to fund and remove this liability.

Sincerely,

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