Kumita Tutorial: How to Make an LOI

A letter of intent or LOI is an important document that seals the agreement of a property owner and buyer or renter to enter into a real estate transaction. The Make an LOI feature of Kumita by Hoppler creates LOIs that you can send to your customers; you simply need to fill out an online form to generate the document.

Here is a step-by-step guide on how to make an LOI with Kumita:

Step 1 of 2: Log In to Access the Kumita Dashboard

Hoppler Partner Brokers with approved listings get exclusive access to the Kumita Dashboard. However, if you are not yet a Partner Broker but want to have an access to the dashboard, sign up here.

• Click Log In / Register on top of the page.
• Enter your email address and password.
• Click the Sign In button.

Once, signed in, you will be redirected to your My Business dashboard.

Step 2 of 2: Use the Make an LOI Feature

• Click Make an LOI

You will be redirected to your Clients page that contains the inquiries you have scheduled for viewing. Click the name of the client you would like to create an LOI for.

• Under the Actions column, click the 3 vertical dots menu button.
• Click Create LOI.

NOTE: When you click on the menu, other options will appear:

• Click Prepare Contract if the client already wants to see a contract that states the agreement between him and the property owner.
• Click Tag as LOST if the inquiry is no longer available or has been lost because of various reasons.

The LOI Form dialogue box will appear. It will ask you to select a property.

• Click the Select a Property drop-down menu.
• Choose the preferred property of your client; click the property ID.

The LOI Form dialogue box will expand. It will display 3 tabs – People Involved, Terms, and Additional Requests. Provide the necessary details in the text boxes.

For People Involved

NOTE: The details for the text boxes in this tab will automatically be filled out by the system based on the information your client has provided. Check if the details are correct and make necessary revisions if needed.

• Check or enter the Title, First, and Last Name of the Client.

• Check or enter Client’s Office Address, Employer, and Nationality.
• Check or enter the Title, First, and Last Name of the Owner.
• Check or enter your Name, Email Address, and Fax Number.

For Sale, an additional Broker’s Fee in Percentage textbox will appear.

• Enter the Broker’s Fee in Percentage.

• Click Next.

The Terms tab will show. Provide the necessary details in the text boxes.

For Rent:

• Enter the Lease Term and Type.
• Enter the Start and End Dates.
• Determine the last date of validity of the LOI.
• Turn on the toggle switches respectively if the deal is Inclusive of Dues, VAT Included, and Withholding Tax Included.
• Enter Monthly Rent Price.
• Enter Security Deposit Number of Months and Amount.
• Enter Advance Payment Number of Months and Amount.
• Enter Commission Number of Months and Amount.
• Enter Additional Payment Terms.
• Click Next.

For Sale:

• Turn on the toggle switches respectively if the deal is VAT Included and Withholding Tax Included.
• Enter the Sale Price.
• Enter Downpayment in Percentage and Downpayment Amount.
• Enter Balance Paid Off in Number of Days.
• Enter Additional Payment Terms.
• Click Next.

Whether the property is for sale or for rent, when you click Next, the Additional Requests tab will show. Indicate here additional requests that need to be included in the document.

• Click Save to keep the LOI on file, click Save and Print to keep the LOI on file and download a Word file that you can print or you can click Previous to go back to the previous tabs and review the details.
• Note: Click the orange Reset button that is always available at the bottom left of the LOI Form dialogue box to remove all the details you have typed in the text boxes.

When you click a command button, a dialogue box will appear.

• Click Close to make another LOI or click Next to see all your current LOIs.

Spare yourself from the hassle of manually creating a letter of intent; through Kumita, you can now make LOIs easily. Add more clients to your database and schedule them for viewing to increase the possibility of closing deals. You can also generate LOIs using your mobile anytime, anywhere.