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.
A Letter of Intent Sample Can Be a Non_Binding Contract. A letter of intent can be considered as a non_binding contract between two parties and generally contains the information that they have agreed upon and can in fact be a precursor to a contract. This is a very commonly used form letter and in essence states that a person or a company intends to take part in a particular action or activity. If you have never written one you may want to look online for a letter of intent sample to learn how to write one that is effective and will get the results you need.