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Letter of Intent - Purchase of Real Estate

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					This Letter of Intent sets out the proposed terms and conditions between a purchaser
and a vendor for the purchase of real estate. The letter of intent provides for the
purchase price, deposit, financing and states that the letter of intent is not legally binding
on either party. Once both parties agree to the terms, a formal purchase agreement will
be executed. This document provides a basic format for the letter of intent and may be
customized to fit the specific needs of the parties.
        LETTER OF INTENT – PURCHASE OF REAL ESTATE
                                                 Purchaser’s Name
                                                Purchaser’s Address

[DATE]

________________________ (VENDOR’S ADDRESS)




Dear __________________: [VENDOR’S AUTHORIZED AGENT]

Re:      Letter of Intent to Purchase Real Estate

       This Letter of Intent serves as the written intent of ___________ (the “Purchaser”) to
purchase from ______________ (the “Vendor”) the real estate property municipally known as
__________________ [DESCRIPTION AND/OR PHYSICAL ADDRESS] (the “Property”).

TERMS AND CONDITIONS OF PURCHASE AND SALE

Purchase Price and Deposit

       The Purchaser and the Vendor agree that the purchase price of the Property shall be the
sum of ____________________ ($_____________) Dollars.

       Upon execution of this Letter of Intent by the Purchaser and the Vendor, the Purchaser
shall deliver to the Vendor, or the Vendor’s attorney a deposit in the amount of
____________________ ($_____________) Dollars, to be held in trust and applied to the
purchase price on the closing date.

FINANCING

        Upon execution of this Letter of Intent by the Purchaser and the Vendor, the Purchaser
shall obtain financing from a qualified lender in an amount no less than ____________________
($_____________) Dollars for the purchase of the Property and the Purchaser agrees that
he/she/it shall provide evidence of such approved financing to the Vendor within _____ (___)
days of the execution of this Letter of Intent.

CLOSING DATE




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        The parties hereby agree that the closing date for the purchase and sale of the Property
shall be the ____ day of _____________, [MONTH] _____, [YEAR] or on such other date as the
Purchaser and Vendor may agree in writing.

        The Purchaser and the Vendor hereby acknowledge and agree that this Letter of Intent
shall not be binding on either party and only constitutes an expression of interest by the parties to
negotiating the transaction contemplated herein and does not impose any legal obligation or duty
by either the Purchaser or the Vendor.

       The Purchaser and the Vendor hereby further agree that upon execution of this Letter of
Intent by each of them, the Purchaser shall instruct his/her/its attorney to prepare a formal
Agreement of Purchase and Sale for the purchase of the Property by the Purchaser from the
Vendor.

         DATED this _____ day of ________________, _____.



                                                                          PURCHASER

or if Purchaser a company

                                                                          (PURCHASER)
                                                                          Per:



                                                                          Name:
                                                                          Title:
                                                                          I have   authority   to   bind   the
Company.




Confirmed by the Vendor this ____ day of ___________, ______.




                                                                          VENDOR

or if Vendor a company


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                                                                          (VENDOR)
                                                                          Per:



                                                                          Name:
                                                                          Title:
                                                                          I have   authority   to   bind   the
Company.




© Copyright 2013 Docstoc Inc. registered document proprietary, copy not                             4
INFORMATION AND FORMS ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IM
				
DOCUMENT INFO
Description: This Letter of Intent sets out the proposed terms and conditions between a purchaser and a vendor for the purchase of real estate. The letter of intent provides for the purchase price, deposit, financing and states that the letter of intent is not legally binding on either party. Once both parties agree to the terms, a formal purchase agreement will be executed. This document provides a basic format for the letter of intent and may be customized to fit the specific needs of the parties.
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This document is also part of a package Letter of Intent 22 Documents Included