How to Write a Letter of Intent (LOI) For a Bulk REO Purchase. If you are looking to purchase a bulk REO(Real Estate Owned) from a seller, you have to provide a Letter of Intent (LOI) to the seller as a first step. An LOI should be written by the buyer and makes the first impression on the seller.
For a Price Quotation.Hence the document's name, it meaning is expressed by it's name. Hence an appropriate response, for a vendor or supplier, is issuing a a price quote.So you see, the response requested is indicated in the very form and name of the document itself. The Letter of Intent has no established place in International trade law. Where they are used _ rarely _ is in some small niche internal markets and trades. The RFQ, Request for Quotation, a standard protocol in the business world, is what most brokers actually want when they err in using an LOI.