Letter Of Intent Real Estate Sample. Start a free trial now to save yourself time and money! Back create my document skip this step for now
The following real estate letter of intent sample will help you understand the different parts of a strong letter of intent to purchase real estate and how those different parts function in the contract as a whole. This letter of intent is only binding on the parties during the contract negotiation period. The most secure digital platform to get legally binding, electronically signed documents in just a few seconds.
The letter signifies the beginning of the agreement between the two parties.
A commercial purchase letter of intent is used during real estate negotiations to demonstrate a buyer’s interest in a property and to relay the major terms of a purchase agreement.these terms will include a property description, financial terms, closing procedures, whether or not a professional inspection is needed, and all other conditions that relay a general outline of the potential real. To signify your resolution as a buyer in acquiring the property, you may combine the letter of intent to purchase real estate with a financial payment or an earnest payment. Real estate with any party other than buyer unless either (1) buyer and seller fail to enter into a binding purchase agreement by 72 hours from the time of acceptance of this agreement, or (2) buyer and seller agree in writing to abandon this letter of intent. A letter of intent can be used in businesses when making contracts about real estate, tenders, purchase orders, acquisitions, services, etc.