Get Letter Of Intent To Purchase Real Estate

Filling out a Letter of Intent to Purchase Real Estate online is a crucial step in the property buying process. This document outlines the basic terms and conditions for the proposed purchase and serves as a preliminary agreement between the buyer and seller.

Follow the steps to complete the form effectively.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Provide the property address. In the designated space, enter the full address of the real estate that is being proposed for sale.
3. Specify the proposed price. Indicate the total purchase price in the allocated field, as well as the amount that will be deposited in escrow upon acceptance.
4. Indicate possession details. Fill in the date when possession will be granted to the buyer, ensuring it reflects mutual agreement.
5. Outline the inspection clause. Add any relevant conditions regarding property inspections after the acceptance of the Purchase Agreement.
6. Detail financing options. Specify how the buyer intends to finance the purchase in the relevant section.
7. Mention closing costs. Provide information about the traditional distribution of closing costs in the corresponding section.
8. Include standard provisions. Acknowledge that the Purchase Agreement will include customary provisions as per local regulations.
9. Add any additional provisions. Include any other terms or conditions that are necessary in the provided space.
10. Finalize the stand still clause. Review the terms that prevent the seller from negotiating with other parties.
11. Acknowledge the non-binding nature of the letter. Make sure to recognize that this letter does not create any legal obligations until a formal Purchase Agreement is signed.
12. Sign the document. Both buyer and seller should sign to acknowledge their understanding of the terms outlined in the letter before returning it.
13. Save your changes, and then download, print, or share the completed form as needed.

Complete your documents online today to ensure a smooth property purchasing process.