Sample Loi - Letter Of Intent To Buy Property
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2Sample LOI – Letter of Intent
Date
Name
Company
Address
RE: Subject Property
Dear Name,
The purpose of this letter is to express our intent to purchase Subject Property.
We have outlined the below terms and conditions of the purchase:
Property Description -
Subject property is located at <<property address>>
containing
<<#>>
apartment
units,
totaling
approximately <<#>> rentable S.F. herein described
as "the Property". (The exact legal description to be
supplied in escrow).
Buyer Information –
[Company Name] is a real estate investment company
specializing
in
the
development,
construction,
purchase, and operation of apartment communities.
Based in [City, State], [Company] has over [number of
years]
years
experience
in
development
and
acquisition,
and
management
of
apartment
communities in [locations]. [website].
Purchase Price-
$
Earnest Money Deposit - $[amount] upon opening of escrow, and an additional
$[amount] upon expiration of the contingency period,
at which time the earnest money deposit shall be non-
refundable.
Terms of Purchase -
Cash at Closing
Inspection Period -
Buyer, at its sole and unfettered discretion, shall be
allowed a thirty (30) day period from opening of
escrow to review all documentation, obtain third party
reports, and otherwise approve the property. If buyer
determines that for any reason the Property is not
suitable for buyer's use, such purchase agreement
shall terminate, Buyers earnest money shall be
returned, and neither party shall have any liability or
obligation to one another hereunder.
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Parent category: Letters