Alright. Let's look at how to write a Letter of Intent step by stepǍ. At the top of the letter, write today's dateǎ. Include the Seller or Broker information at the top of the letterǏ. Explain that you are presenting this as a Letter of Intent to purchase the propertyǐ. Explain who you are _ whether you are buying through an LLC, investment group, etcǑ. Describe the property you are purchasing _ the property name and addressǒ. Include the price you would agree to purchase the propertyǓ. Define the due diligence period _ it may be anywhere from 30 to 90 days, possibly even longer in a complex projectǔ. Identify how you would like to finance the project _ Seller financing, loan assumption, bank financing, etc.
Are You Properly Formalizing Your Business Intentions in a Proper Letter of Intent? Not having a properly drafted letter of intent may lead to loss of business as well as ambiguity in setting out the proposed terms of an intended sale. After all, when thinking of buying a business, the intentions to buy should be clearly set out at the very beginning.