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.
The Most Important Clause to Include in a Letter of Intent (LOI) Or Purchase Contract. Writing a Purchase Contract or Letter of Intent (LOI) to buy an apartment building or commercial property can be an exciting experience. It can also be a bit intimidating. This is especially true for beginning investors.