Letter Of Intent For Purchase Of Real Property (Page 2 of 5) in pdf

Letter Of Intent For Purchase Of Real Property Page 2

_____________________

Page 2

property. In addition, this offer to purchase includes the following specific items: ___________

____________________________________________.

Purchase Price: ___________________ ($________).

Terms of Purchase: ________________________________________________

___________________________________________________.

Opening of Escrow:

Escrow ("the Purchase Escrow") shall be opened at

______________ Title Company within three (3) business days from execution of this Letter of

Intent. The Purchase Agreement and Mutual Escrow Instructions shall be mutually prepared and

executed by Buyer and Seller within ________ (___) days of execution by both parties of this

Letter of Intent to purchase (the "Contract Negotiation Period").

Deposit Toward Purchase Price:

Initial Deposit: Concurrently with the opening of escrow, Buyer shall

place therein the sum of ___________________________ Dollars ($____________) as a

refundable deposit toward and applicable to the Purchase Price ("the Initial Deposit"). Escrow

Holder shall deposit such sum in an interest-bearing, federally insured account with interest

accruing for the benefit of Buyer.

Second

Deposit:

additional

non-refundable

deposit

__________________________ Dollars ($____________) shall be applicable to the Purchase

Price and upon approval of the feasibility shall be released to Seller, inclusive of the Initial

Deposit.

Feasibility Period: Buyer shall have until ________________ to perform all

feasibility and due diligence for subject property. Seller shall fully cooperate with Buyer in

Letter Of Intent For Purchase Of Real Property Page 2