There you have it _ the essential elements to include in a LOI. Nothing too complicated _ and if it is too complicated you will likely scare off a serious Seller! The LOI is really just a simple business letter outlining the price, terms, and conditions that you would like to get when purchasing the property. Those are the basics, and everything will vary from project to project. Again, a LOI is a great tool in your toolbox to begin discussions when purchasing real estate. Keep these steps in mind when you are looking to make your next purchase of an investment property.
No solicitation of employees of the business by the purchaser: Till the proposed sale materializes, or in the event that such sale does not materialize, the purchaser shall abstain from trying to recruit or solicit the services of any employee of the business.