Letter of Intent to Purchase Real Estate Template

How to Write a Letter of Intent to Purchase Real Estate?

Usually, the buyer (their lawyer or a representative) completes the document and submits it to the seller. A simple letter of intent to purchase real estate can include parts, such as:

1. Introduction. The letter can start with the buyer introducing themselves and making a statement, in which they will express their desire to purchase a real estate property that the potential seller owns.
2. Information About the Parties. In this part of the document, the parties are supposed to designate their names and addresses. The address should include the building number, street name, city, state, and ZIP code.
3. Property Description. Buyers can use this part to depict information about the property they want to buy. They can indicate its main features, such as the square footage, the number of rooms and floors, its type, and other traits that identify it, and designate its location stating the address and other directions on how to find it (if applicable).
4. Purchase Price. Here buyers can state the potential price that will be paid for the property lot. They can also include other purchase terms, such as how the money will be transferred, when the transfer will take place, will there be a deposit, etc.
5. Contact Information. The parties should provide their contact details for notification purposes, it can include their emails, telephone numbers, fax information (if applicable), and postal addresses (if they are different from the addresses stated in the first part of the document).
6. Offer Expiration. The buyer should indicate how long the offer is good for. Generally, this provision is supposed to provide the date the letter will be automatically terminated.
7. Governing Law. The document can indicate the law under which it should be governed.
8. Signatures. To state their agreement with all terms and conditions stated in the letter, the parties are supposed to sign the document.

The buyer can include other parts in the letter as well, such as a non-disclosure clause, severability, jurisdiction, representatives, etc. After receiving it, the seller can review it and, if all of the conditions suit them, accept and sign the document.

Check out these related letter templates:

• New Real Estate Agent Announcement Letter;
• Real Estate Prospecting Letter;
• Lease Renewal Letter.