Academic: In the academic world a letter of intent is known as a Statements of Purpose and is part of the application process. Real estate: Often times there are properties that are not listed on the MLS or with a realtor. It is at these times that a letter of intent can be used to let the owner of the house know that a potential buyer exists and thus the process of buying and selling the house may begin.
Run Your Business Letter of Intent Past Your Lawyer, the Cost Will Be Well Worth It. A business letter of intent represents a memo which includes the particulars about a commercial enterprise arrangement between two entities which affects the channeling of commodities or services.