Seller's obligations and legal position: The seller is obliged to continue operating the business in a manner that is consistent with past practice and that he shall facilitate the purchaser's endeavors in obtaining finance from third parties. However, neither the purchaser nor the seller is under any obligation to complete the acquisition of the business until and unless the purchase acquires all permits, certificates, permissions and approvals as required ensuring the correct operation of the business by the purchaser. In addition, the purchaser should also have completed a due diligence investigation and satisfied himself/herself in this regard.
Master the art of the letter of intent for employment and your chances of finding the perfect job will sky rocket.Writing a Letter of Intent (LOI) to Purchase Real Estate _ Step By Step In this article, I would like to give you an idea of when to use a Letter of Intent (LOI) to purchase real estate. Next, we will look at how to write a LOI step_by_step.