Cell Tower Leasing _ Letters of Intent. The latest cell tower leasing trick we have encountered is tower companies that are using "Letters of Intent" as a tool to unwittingly get property owners to sign what they believe to be a harmless letter. Some people are led to believe that this is "just a way for us to lock in these terms with our bosses" or "just a letter of understanding so that we can investigate using the site". Well these letters are not simple but I can tell you what they are in many cases....legally binding!
Secret: Time is NEVER on your side when you are buying. Never forget that. Keep in mind that if you are looking to explore the viability of a purchase, a good starting point is the LOI. Once you get beyond the "overview" of what you and the seller are looking for, detail everything out in the purchase contract, and keep all of the above in mind when doing so.