Never be afraid to hear negative feedback or objections from the buyer _ it means you will always know where you stand and gives you a chance to deal head on with their objections. And as far as disagreements over price go, the time to deal with them is before you accept the Letter Of Intent.
There you have it _ the essential elements to include in a LOI. Nothing too complicated _ and if it is too complicated you will likely scare off a serious Seller! The LOI is really just a simple business letter outlining the price, terms, and conditions that you would like to get when purchasing the property. Those are the basics, and everything will vary from project to project. Again, a LOI is a great tool in your toolbox to begin discussions when purchasing real estate. Keep these steps in mind when you are looking to make your next purchase of an investment property.