9. Describe what you would like to review during the due diligence period _ financial information, leases, rent roll, etcሂ. Include the earnest money you would be prepared to put down during due diligenceሃ. Identify a Closing Date target _ it may be within 30 or 45 days of conclusion of the Due Diligence Period. This will vary based on the projectሄ. End the letter stating if these terms are acceptable, to let you know and you will follow up with a formal Purchase Agreement to move forward on the purchaseህ. Sign the letter.
In the business world letters of intent are often used to prove to potential investors that a potential deal or merger may take place. Without such proof, investors may not be so willing to loan out the much needed money. While letters of intent are common in the business world there are also other instances where letters of intent are used.