LOI-Merge Company Name: Address 1: Address 2: City, St ZIP: , Phone: Fax: Offer Date: Re: Owner Name: Owner of Address: Property Description: Purchase Price: $ Payment Terms: Deposit Amount: $ Closing Period: days Purchase Agreement Deadline: . Escrow Company Clause: Load Docs Delivery Days: Purchaser Review Days: Required Signature Date: (Edit LOI) Logo Upload * Drop a file here or click to upload Choose File Maximum file size: 268.44MB Radio Buttons * Send & Preview My Pre-Offer & LOI Send My Pre-Offer & LOI Preview Only Phone & Fax Phone: Fax: LOI Page 1 , Re: Dear , This letter (“Letter of Intent”) constitutes a proposal from , or assignee (“Purchaser”) to purchase from (“Seller”) . The proposed terms of our purchase of the Property are generally as follows: 1. Purchase Price: The purchase price of the Property shall be $ 2. Payment/Financing Contingency: The payment of the purchase price shall be as follows: a) Buyer to pay b) An initial deposit of $ shall be paid by Purchaser into escrow within three (3) business days after execution by the last party to sign (“Effective Date”) of a formal purchase and sale agreement (the “PSA”). 3. Closing: Closing shall be days after the expiration of the Feasibility/Due Diligence contingency described in Paragraph 6. LOI Page 2 4. Formal Agreement: Purchaser and Seller shall enter into the PSA for the property on or before . This Letter of Intent shall be null, void and without further force and effect if a fully executed PSA is not entered into in or before . 5. Escrow: . 6. Feasibility/Due Diligence Contingency: Loan documents, physical books and records should be delivered within days from execution of the letter of intent. Purchaser shall have days after the Effective Date of the PSA to perform and approve all feasibility and due diligence matters with respect to the property, including, without limitation title, survey, and all physical inspections, all of which shall be at Purchaser’s sole expense. 7. Prorations, Costs, and Expenses: All rent, taxes and other matters shall be paid current and prorated as of the close of escrow based on a 30 day month. Escrow fees, recording fees and other miscellaneous costs and expenses with respect to the closing of the Property, including the documentary transfer tax shall be paid in accordance with the custom in each property’s respective county. Aside from the foregoing, Purchaser and Seller shall each respectively pay their own legal, accounting and other professional fees arising from and under the PSA. 8. Purchaser Waiver: Purchaser has the right to waive any of the above conditions and close under the purchase agreement. LOI Page 3 9. Brokerage Commission Agreement: Seller is not responsible to pay any commission for any broker representing the buyer. If the buyer retains the services of a broke, then the buyer is responsible to pay commission to the broker. 10. Non-Binding Nature of Letter of Intent: This Letter of Intent is intended to be a non-binding statement of the terms of a proposed transaction. It is subject in all respects to the preparation and execution by the parties of a PSA as indicated in paragraph 4 above. 11. Letter of Intent Deemed Withdrawn if not Signed: If this Letter of Intent is not signed by each party on or before then it shall be deemed withdrawn and of no force or effect. Sincerely, By:__________________________________________ Date:___________________ , Approved and Accepted By: By:__________________________________________ Date:___________________ Δ
