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Fantastic Letter Of Intent Purpose

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Once you have an idea as to the big picture items of the deal, it is time to get to the small items. Funny thing is in most purchase agreements nothing is small. In the Purchase Agreement we talk about things like: 1. Possession Date 2. Contingencies 3. Financing 4. Inspections of the property, leases, and other documents 5. What happens if we close on time? 6. What happens if we do not close on time? 7. Rent credits, prorations, etc. And much more...

Of course all of these items are important, and these are the details you should be thinking about before you make the Offer to Purchase. Why? More than likely you and the seller will not agree on everything. That is to be expected, so many of the items above, as well as other items, will need to be discussed and worked out. So what should you do?

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