Letter of Intent for Purchase of Real Property
The Letter of Intent for Purchase of Real Property app, is an electronic entry version of a letter of intent for use in real estate.
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This real estate letter would be used when needing purchase agreement of property between a seller and a buyer at the initial stage, signifying a binding contract of an intent to purchase. Contact information is gathered for both parties, the seller and the buyer, as well as the real estate that is being sold and purchased. The letter states that the buyer is also purchasing the seller's rights, title and interest in all of the fixtures, improvements, leases, maps, reports, plans, and other such material related to the property. It details the purchase price, and the terms of the purchase, as well as the opening of escrow and closing of the escrow. There is a section for the parties to detail the deposit payments, as well as the feasibility period. The end of the letter details the expiration of the offer of the purchase agreement contract and all other terms & conditions of the sale agreement, and includes signatures for the buyer and seller. The form could be used by a real estate agent or a private intent to purchase or a purchase offer between a buyer and seller. This is a sample letter of intent which can be completely customized as a formal agreement or lease agreement between the seller and the buyer to purchase real estate.
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