Contents of Offer Letter

My buddy wants to buy the house he is currently renting. He doesnt want a lease-option but a straight buy. He hooked up with a buyer’s agent who wrote up a package to send to his landlord. I was pretty impressed by the presentation but thought I’d see if anyone else has advice as to what else to include.

The package contains:

  1. Complete CMA
  2. Adjustments based on the property’s problems
  3. Points out that this is the last year they can sell and not pay cap gains (The landlord occupied the house a couple years ago). They bought it in '99 for 360k and the offer will probably be in the high 700’s.
  4. Points out the $ they’ll save by having to evict a tenant when/if they decide to sell (payouts are common in this area).
  5. Explains that the landlord can NOT use an agent and pay their buyer’s agent 3%, use a selling agent from the same office and pay 4%, or get their own and pay 5% (norm in the area).
  6. Includes copy of earnest check made out to title co. and explains the financing planned.

Thanks for any input,