That is about it for the content, believe it or not; it is direct and straightforward without any fluff or nonsense. You are simply covering each detail so the seller knows exactly what the buyer intends to do. Having an informal letter of intent also allows for easy negotiations.
LOI is a Legally Worthless Document That Means Virtually Nothing As a practical matter, in legal terms, the Letter of Intent is a worthless and meaningless document. The LOI is a badly flawed legal document. This is because the document is, as one experienced contract law expert put it, "an agreement to agree which is non_binding and non_enforceable as a contract."