A letter of intent is essentially a letter stating that a buyer has interest in a property. I do not do this as it is a waste of time. If interested in a property, an agreement of sale should be written an carries much more weight.
De-winterizing costs is between $400-$500 and can be done by a certified plumber.
Frank Dolski MBA, ABR, e-PRO
Certified Relocation Specialist
Previews Luxury Home Specialist
Coldwell Banker Hearthside Realtors
Ranked #1 In The State of PA in 2012 For Coldwell Banker International Realtors
2012 Coldwell Banker International Presidentâ€™s Elite Award
2010-2011 Coldwell Banker International Presidentâ€™s Circle Award
When placing an offer on a property, you can either complete a full AGREEMENT OF SALE (a long legal document that both parties can sign and be legally bound) -OR- a LETTER OF INTENT (a one page summary letter outlining the offer and all the details).
A Letter of Intent is an easier/lazier way to enter into negotiations with a Seller to see if you can come to agreeable terms, however Sellers MUCH prefer to see the full Agreement of Sale since it shows you are really serious about the purchase.......and not just fishing for houses. If the Seller agrees to negotiate using a Letter of Intent, and once everything has been agreed, then the terms must be written onto the formal Agreement of Sale immediately for legally binding signatures.
If you will be inspecting a home that has been winterized, and you want to successfully evaluate the plumbing and water-based systems, it is often your responsibility to de-winterize and re-winterize the property . The cost is approximately $500 ($250 + $250) for this service. Call a local plumber for a true estimate in your area.
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BFI means Buyers Financial Information and a Letter of intent is exactly that. Someone issues a letter of intent to do something. As for cost to winterize and dewinterize you could speak to a local plumber who would provide that information as I would imagine it would depend on the size of the job.
Cornerstone Lending Inc
Southampton Pa 18966
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I'm not 100% sure on winterizing.
Are you looking to buy a home or sell?
Give me a call and I'll help you out.
Ann Mc Guire
Bachelors in Marketing