Scribd Logo
Upload

Welcome to Scribd!

  • 112 views

    Template - Letter of Intent - Simple Version

    Uploaded by

    Olamide Gbadebo
    This letter of intent outlines terms for the purchase of a property located at a specified address for $#### (amount in letters) by a named buyer. The buyer will pay a 10% earnest money deposit of $#### (amount in letters) and the remaining 90% balance of $#### (amount in letters) at closing within 35 days. The seller agrees to provide clear title and both parties will use a specified real estate agency, paying the agent #%% commission. The terms are valid for 7 days for acceptance by the seller.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Template - Letter of Intent - Simple Version

    Uploaded by

    Olamide Gbadebo
    112 views2 pages
    This letter of intent outlines terms for the purchase of a property located at a specified address for $#### (amount in letters) by a named buyer. The buyer will pay a 10% earnest money deposit of $#### (amount in letters) and the remaining 90% balance of $#### (amount in letters) at closing within 35 days. The seller agrees to provide clear title and both parties will use a specified real estate agency, paying the agent #%% commission. The terms are valid for 7 days for acceptance by the seller.

    Original Title

    Template_-_Letter_of_Intent__-_Simple_Version

    Copyright

    © © All Rights Reserved

    Available Formats

    DOCX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    This letter of intent outlines terms for the purchase of a property located at a specified address for $#### (amount in letters) by a named buyer. The buyer will pay a 10% earnest money deposit of $#### (amount in letters) and the remaining 90% balance of $#### (amount in letters) at closing within 35 days. The seller agrees to provide clear title and both parties will use a specified real estate agency, paying the agent #%% commission. The terms are valid for 7 days for acceptance by the seller.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    112 views2 pages

    Template - Letter of Intent - Simple Version

    Uploaded by

    Olamide Gbadebo
    This letter of intent outlines terms for the purchase of a property located at a specified address for $#### (amount in letters) by a named buyer. The buyer will pay a 10% earnest money deposit of $#### (amount in letters) and the remaining 90% balance of $#### (amount in letters) at closing within 35 days. The seller agrees to provide clear title and both parties will use a specified real estate agency, paying the agent #%% commission. The terms are valid for 7 days for acceptance by the seller.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    DD MM YYYY

    From: Name of Buyer; and / or assigned.

    Letter of Intent: Purchase of Property Description.

    Dear Name of Seller,

    The purpose of this letter is to express our intent to purchase Subject Property with a Title Deed
    that is good and transferrable, free and clear of all liens and encumbrances.

    We have outlined the below terms and conditions of the purchase:

    Property Description – Subject property is located at address, with built-up floor area of ####
    square feet, herein described as "the Property".

    Buyer Information – Full legal name with government identification number.

    Offered Purchase Price – #### (in letters).

    Earnest Money Deposit – Upon signing this Letter of Intent, subject to Seller approval of this
    offer, the Buyer will pay an amount of #### (in letters), equivalent to 10% of Purchase Price, in
    the form of a cheque to be held in escrow with Real Estate Agency Name until transfer date.
    Earnest Money Deposit Cheques of Buyer will be cashed in the favor of the Seller except in the
    case of failure to perform Seller’s obligations under this Agreement.

    Remaining Balance –#### (in letters), equivalent to 90% of Offered Purchase Price at closing
    upon transfer of Title of Deed to the buyer.

    Final Settlement - Final Settlement, otherwise known as date of transfer of Title of Deed to the
    Buyer, is set at Thirty Five (35) days following the date of signing the Purchase and Sale
    Agreement, or at such time as mutually agreed upon by the parties hereto with good faith to
    accommodate any time required by the Developer, government agencies, and the Lender to
    process and deliver documentations pertaining to this deal.

    Brokerage Commissions – Both the Buyer and Seller has engaged Real Estate Agency Name
    (herein, "agent"), as the agent, and both agree that it is the Buyer's / Seller’s obligation to pay
    agent a #### percent (#%) commission based on the purchase price at the time of settlement.

    Risk of Loss - All risk of loss to the Property shall be borne by the Seller until the date and time
    of settlement.

    Proration - Rents, and other income and expenses pertaining to the Property will be prorated as
    of the close of the final settlement date.
    The terms expressed in this Letter of Intent will become null and void if not accepted within
    seven (7) days from the date of this letter. If you accept our proposal, we will proceed to enter
    into a Purchase and Sales Agreement within seven (7) days of acceptance.

    During this period Seller agrees to discontinue any third party sale negotiations.

    Sincerely,

    Buyer’s Name and Signature Agent (with Registration Nbr.) Seller’s Name and Signature

    You might also like

    pFad - Phonifier reborn

    Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

    Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


    Alternative Proxies:

    Alternative Proxy

    pFad Proxy

    pFad v3 Proxy

    pFad v4 Proxy