Letter of Intent to Purchase - Posted by las

Posted by DougO_NM on August 24, 2003 at 12:54:39:

As far as I can see, the letter of intent is a great way of seeing if you can get in to the ballpark before commiting a lot of time, energy and of course dinero. The basic letter addressed to the owner or their agent (owner is best though) says HI, we’d like to purchase the property located at this location. If a transaction something along the lines of the following meets with your approval, or is close to it, please sign this letter where indicated and mail or fax it back. Remember that this letter of intent is not a purchase agreement in and of itself, only an agreement to get together and negotitate in good faith towards an agreement along the lines being proposed herein.

Then outline your proposed deal, and give them a deadline to respond. Thank them for their time and consideration.

And no, you don’t need a lawyer to write someone a letter asking if theywill sel you their property.

Good Luck,


Letter of Intent to Purchase - Posted by las

Posted by las on August 22, 2003 at 11:00:14:

I would like to start negotiation on a multifamily building. The asking price is a lot higher than the data suggests it should be. I would like to start to negotiate with them, but before I retain a lawyer I want to make sure we can even get in the same ball park.

Would it be appropriate to use a letter of intent to demonstrate that I am serious? Since this is non-binding what are the risks associated with me preparing this myself as oppose to using a lawyer? Can anyone guide me to good samples?