In conclusion, terms must be agreed between the parties before the contract is signed or executed. Even expressed wording in contract terms stating that the standard terms will prevail over others may not be effective where it can be shown that no agreement was reached, whether expressly or by way of conduct.
In my experience, a casual, personal letter to the seller is often the best received way to present your intentions to purchase a property. Some people insist on drafting a formal, multi_page, non_binding contract filled with legal jargon that can often intimidate the seller. A seller wants to easily see how the buyer wants to purchase the property, and determine if he or she can accept the presented terms. Read on to learn how to construct a letter of intent and what to include. Let's investigate the contents of a letter of intent so you, too, can construct one before putting a property under contract.