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However, sometimes one of the parties prepares a document believing it to be a valid and enforceable agreement only to find, after expensive litigation, that it was not a binding agreement at all but merely a non_binding, non_enforceable agreement to agree, letter of intent."

Using Letters of Intent With Real Estate Agents. Some real estate agents and real estate brokers prefer to write up a contract for each offer, while others use a letter of intent to express interest in a property and to work out the details before writing up a full contract to purchase real estate. Many bank owned properties (also known as REO properties) are explicitly telling agents not to submit letters of intent on their listings, but with private sellers, a letter of intent can be a good way to introduce your creative offer to a seller without a huge amount of time invested by your real estate agent.

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