Some Facts to Keep in Mind About The Letter Of Intent 1.) Don't accept an LOI that grants the buyer exclusive negotiation rights unless the Due Diligence period is short. 10┰ days of DD is sufficient for most small businesses. Some buyers will ask for exclusivity and a 2 month DD period. Your other prospects will eventually lose interest, leaving you with just one buyer. Then your one buyer will start asking for all sorts of concessions from you.
The Most Important Clause to Include in a Letter of Intent (LOI) Or Purchase Contract. Writing a Purchase Contract or Letter of Intent (LOI) to buy an apartment building or commercial property can be an exciting experience. It can also be a bit intimidating. This is especially true for beginning investors.