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The Letter Of Intent you accept will be the best deal you will ever get. Your selling memorandum, your recast financial statements, all your follow up communications with buyer and your tour of the facilities should all serve to justify your asking price. If the buyer has any objections or concerns about your asking price you want them to express them now rather than later.

There is no filtering through legally written clauses and other such unnecessary information at this stage in the project. When the letter of intent spells out each detail clearly, the seller can come back with alternate terms of which he or she would be more accepting. This negotiation can go back and forth without the rewriting of lengthy pages that either party may misconstrue.

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