Estoppel
Letter
TO: ________________________
____________________________
____________________________
____________________________
REGARDING:
_________________
Property located at:
_____________________________________________
The balance due upon
this mortgage as of ___________ is $ ________ (_____________&___/100
dollars). The per diem is $_______
(_____________&___/100 dollars). The mortgage was last paid on
_________________.
The figures in this
estoppel are effective until _____________.
Funds should be wired
to: ________________ Name of Account,
____________ Bank, _____________ ABA #, _______________ Account Number.
Fax a copy of your wire
instructions to: ________________, Attention: ____________.
Dated:
______________________
For:
_______________________________
Owner
By:
_______________________________________
Lender
As:
_________________________
_______________________
_______________________
Estoppel Letter
Review List
This review list is provided to inform you about this
document in question and assist you in its preparation. An estoppel letter is to determine payoff
amounts at a closing or sale of a property.
Both private and public lenders provide these as a matter of
course. These can also be used for
corporate banking situations when acquirers and/or lenders take out old loans.
If you are in a such lending
situation, this document formalizes the process and will assist the escrow
agent, attorneys, or whomever else is handling the transaction to handle it
appropriately and deliver you your funds.
1.
Make
multiple copies. Give a copy to each
related party. Keep one with the
transaction file.
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