Letter Of Intent To Purchase Real Estate Template

Letter of Intent Overview

This document serves as a preliminary expression of interest in acquiring a property and outlines the basic terms and conditions that may be negotiated further. It is intended for informational purposes and should not be considered a binding agreement. Parties are advised to seek legal counsel to ensure all local regulations and legal requirements are appropriately addressed. Use of this template is at your own risk, and no liability is assumed for inaccuracies or misunderstandings without proper professional review.

This is a sample template of a Letter of Intent to Purchase Real Estate. The wording may vary slightly depending on specific circumstances and details. Please tailor the content accordingly.

Letter of Intent to Purchase Real Estate – Sample

Parties:

Buyer: Alice Johnson
Address: 789 Maple Street, Springfield, IL 62704

Seller: Bob Williams
Address: 321 Oak Avenue, Springfield, IL 62704

Description of the Property:

The property subject to this Letter of Intent is located at 456 Pine Lane, Springfield, IL 62704, including all existing structures, fixtures, and appurtenances as described in the preliminary negotiations.

Intended Terms of Purchase:

The Buyer intends to purchase the property at a purchase price of $250,000, subject to due diligence and formal agreement. The proposed timeline for closing is approximately 45 days from the signing of this letter.

Contingencies and Conditions:

This Letter of Intent is non-binding and subject to the execution of a definitive Purchase Agreement, satisfactory inspections, title review, and approval by both parties.

Other Terms and Conditions:

• Buyer’s obligation to proceed is contingent upon securing necessary financing.
• Both parties agree to work in good faith to finalize the transaction in accordance with standard real estate practices.
• This letter does not constitute a binding agreement but expresses the intent to negotiate in good faith toward a definitive contract.

Springfield, ______________________