Are you looking to purchase or rent a property and need a preliminary agreement to serve as the basis for the final contract? A Letter of Intent (LOI) is a non-binding agreement that outlines the principles of a sales or lease contract. Its purpose is to have a draft contract that can later evolve into a final contract, usually in the form of a purchase agreement or lease agreement.
According to Type (4)
- Rent Commercial Real Estate
- Rent Residential Real Estate
- Purchase Commercial Real Estate
- Purchase Residential Real Estate
If you want to download a template for a Letter of Intent to purchase or rent real estate, click on the links below:
- Download: PDF, MS Word, OpenDocument
If you're interested in renting a residential property, we also have a template specifically for you. You can download the rental templates below:
- Download: PDF, MS Word, OpenDocument
If you're interested in purchasing a commercial property, we also have a template specifically for you. You can download the purchase templates below:
- Download: PDF, MS Word, OpenDocument
If you're interested in purchasing a residential property, we also have a template specifically for you. You can download the purchase templates below:
- Download: PDF, MS Word, OpenDocument
Table of Contents
- Real Estate Letter of Intent: According to Type (4)
- Is a Letter of Intent Binding or Not?
- How a Letter of Intent Works (5 Steps)
- Template - Letter of Intent for Buying or Renting Real Estate
- How to Write a Letter of Intent
Is a Letter of Intent Binding or Not?
Determining whether a letter of intent is legally binding or not is a decision made by the parties involved. Once this decision is reached, a statement indicating the binding status of the document should be integrated into the language of the form. If such a statement is missing, protecting the enforceability of the agreement in court will be more difficult, and the case may be dismissed due to uncertainty about the letter's intent.
How a Letter of Intent Works (5 Steps)
- Buyer/Lessee Reviews the Property
- Parties Negotiate
- Agreement Becomes Effective
- Due Diligence Phase
- Conclusion
Template - Letter of Intent for Buying or Renting Real Estate
If you want to know how to write a Letter of Intent to purchase or rent real estate, you can download the templates below:
- Download: PDF, MS Word, OpenDocument
How to Write a Letter of Intent
If you want to know how to write a Letter of Intent to purchase or rent real estate, follow the steps below:
- Sender's Address.
- Effective Date of Intent into a Contract.
- Recipient's Address.
- Subject Line.
- Identify the Parties Involved.
- Buyer/Lessee Identification.
- Seller/Lessor Name.
- Property Address.
- Additional Description.
- Real Estate Transaction.
- Financial Conditions.
- Bank Financing.
- Purchase Conditions.
- Closing Date.
- Closing Costs.
- Possession.
- Property Inspection.
- Disclosure Reports.
- Termination Agreement.
- Lease Conditions.
- Dealing with Expenses.
- Lease Term.
- Lease Termination Conditions.
- Binding Effect.
- Additional Terms.
- Governing Law.
- Acceptance.
Buyer/Lessee
- Buyer/Lessee Signature.
- Printed Name of Buyer/Lessee.
- Date Signed.
Seller/Lessor
- Seller/Lessor Signature.
- Printed Name.
- Date Signed.
If you need more information on writing a Letter of Intent for buying or renting real estate, download the corresponding templates or contact us.