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For example, I usually buy houses directly from sellers, but last week I started to make some creative owner financing offers for some houses through real estate agents. Once I was able to talk to the agents representing me, they immediately saw the benefits of my offer to some sellers. Unfortunately, the agents I talked to would be presenting my offer to another agent that represented the seller.

There is no filtering through legally written clauses and other such unnecessary information at this stage in the project. When the letter of intent spells out each detail clearly, the seller can come back with alternate terms of which he or she would be more accepting. This negotiation can go back and forth without the rewriting of lengthy pages that either party may misconstrue.

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