All parties to the transaction, Type of deal structure , Price , Payment structure, Non_compete ,Transition plan ,Closing date ,Contingencies (i.e. due diligence, financing, etc.) ,And identify other items to be negotiated.
There _ we got that out of the way! OK. Now let's look at when to use a Letter of Intent vs. a Purchase Offer. I am specifically going to address this when looking at buying an apartment building or commercial real estate. The standard contract used when purchasing real estate is called a Purchase Offer, or a Purchase and Sale Agreement. You probably used this to buy your own house or condo.