Learn How to Construct a Letter of Intent. A letter of intent is a common way to express your intentions to purchase a property without having to write a formal, legal binding contract. The letter of intent is presented to a seller in the very preliminary stages of a project. The intentions of a buyer are spelled out clearly and simply so the seller knows exactly how the buyer wants to purchase the property, and under what terms.
7.Buyer, and/or his agents, shall have the right to review all books and records used in the preparation of the financial statements and tax returns for the last three years (may use an outside consulting or audit firm to validate the books and records) 8.Owner shall stay on for a maximum of XX months at a compensation rate agreeable to both parties (if necessary and required). 9.Buyer shall pay all sales tax on fixtures and equipment, if any. 10.Seller shall execute a X year non_compete agreement.