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006 Letter Of Intent To Purchase Sample Business Template Valid

006 Letter Of Intent To Purchase Sample Business Template Valid Rare Buy Property House And Lot

A Letter of Intent is usually used in the beginning stages of a negotiation to get "good idea" of what the buyer and seller are each after. It is not required, and quite frankly, is not used in most transactions. However, a LOI is a good document to use _ especially if you are looking to purchase a property for substantially less than the listing price. Let's look at when the best time to use Offer to Purchase. Remember, this is the formal offer, and is legally binding once signed by both parties.

Once you have an idea as to the big picture items of the deal, it is time to get to the small items. Funny thing is in most purchase agreements nothing is small. In the Purchase Agreement we talk about things like: 1. Possession Date 2. Contingencies 3. Financing 4. Inspections of the property, leases, and other documents 5. What happens if we close on time? 6. What happens if we do not close on time? 7. Rent credits, prorations, etc. And much more...

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