Letter Of Intent Template (Page 2 of 2) in pdf

Sample LOI – Letter of Intent

Financing Period:

Upon waiver of contingencies, Buyer shall have

obtained a loan application detailing terms acceptable

to Buyer. Buyer, at its sole and unfettered discretion,

shall be allowed a forty-five (45) day period from

waiver of contingencies to complete the application,

provide lender with all documentation, and obtain a

loan commitment, at terms the same as the

application, or otherwise acceptable to Buyer. If buyer

determines that for any reason the loan terms are not

acceptable, such purchase agreement shall terminate,

Buyers earnest money shall be returned, and neither

party shall have any liability or obligation to one

another hereunder.

Closing Date -

Fifteen (15) days after waiver of contingencies.

Opening of Escrow.

Opening of escrow will be the date that signed escrow

instructions are received by [Title Company] along

with the earnest money.

Confidentiality -

All aspects of this negotiated agreement shall be held

by Buyer and Seller in the strictest of confidence. The

confidentiality requirement shall not be in effect once

closing occurs.

Prorations -

Taxes, rents, and other income and expenses

pertaining to the Property will be prorated as of the

close of escrow.

Broker -

Principals of the Buyer are licensed real estate

brokers in [state], and are acting as principals only.

Seller

shall

responsible

for

all

brokerage

commissions.

The intent of this letter is to serve as a description of interest to purchase the

property and is not considered binding on either party, or to be used instead of

escrow instructions. The terms expressed in this Letter of Intent will become null

and void if not accepted within seven (7) days from the date of this letter. If you

accept our proposal, we will proceed to enter into a purchase contract within

fifteen (15) days of acceptance. During this period Seller agrees to discontinue

any third party sale negotiations.

Sincerely,

Letter Of Intent Template Page 2

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