This document provides a sample payoff request letter that can be used as a guide. The subordination agreement or demand for payoff, short sale or deed in lieu will be provided within 10 to 14 days from the date of a complete request.The document is utilized to acknowledge that the borrower has fulfilled all duties and payment has been received in full under a Deed of Trust. To request a payoff quote, please complete the payoff quote form. This form is intended for 3rd parties acting on behalf of Mr. Cooper customers. A contract for deed, also known as a land contract, is an alternative method for financing the sale of a house or other real estate. Contract sales price. 106. This is an example of a payoff letter used in a syndicated loan transaction.