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006 Letter Of Intent To Purchase Real Property Best Photosf Template Sample Estate

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A letter of intent should be sent to all creditors warning them of future legal proceedings. It is important for creditors to know when a debtor is going to file for bankruptcy, as it directly affects the manner in which they will be repaid as well as the time period in which they can expect to be repaid.

State that, no binding contract is to come into effect, except to the extent set out in the letter and that neither the letter nor any work done or payment made under the letter shall be deemed to be a waiver of the requirement to provide a binding contract. Finally, every effort should be made to finalise the contract as soon as reasonably practicable after the letter of intent has been signed.

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