How Do You Write A Letter Of Intent To Purchase Land?
Writing a letter of intent is a way for parties in a transaction, when buying land or real estate, to have common ground before finalizing an agreement. A letter of intent contains all of the vital information a buyer and seller need to complete the purchase or transaction. This type of letter is non-binding, which means there are no penalties for canceling or backing out of a proposed agreement. You can write a letter of intent by first determining what to include in the letter. Write an introduction for your letter of intent. You will want to include the name of the proposed buyer, a description of the land to be purchased and the name of the person selling the land. Include in the first section of the letter the agreed to purchase price for the land. Include in the second section the time frame required to complete certain items, including the inspection and financing. Include in the third section the closing date for the transaction. Include in the fourth section who will be paying
