Approved and Professional Letter of Intent to Purchase Example

| August 14, 2012 | 0 Comments

Our letter of intent to purchase example is a professionally written document that can be used to indicate intent to enter a formal agreement. Generally they are used when people have agreed in principle to a business commitment; such as the intent to purchase real estate. There are different laws in different areas regarding their legality, so before signing and sending a letter of intent it is best to have it reviewed first by a lawyer or legal expert. As the contents of such a letter must contain specific details and information, we recommend following the outline of our letter of intent to purchase example.

The Format of Our Letter of Intent to Purchase Example

Our letter of intent to purchase example is formatted so that it is easily editable. The design is such that with a bit of cutting and pasting in your word processing program you can substitute the content of our example with that of your own. The block format we have used makes this especially practical, as the text is written and arranged in blocks or sections, therefore making it easy for you to easily compose your own letter block by block.

The block format is the most widely accepted format for formal business letter writing, and will give your letter an official and professional appearance. Let’s take a closer look at how this is accomplished by reviewing a step-by-step analysis of our letter of intent to purchase example.

Once you understand exactly how to use our example to construct your own letter, you can Download This Letter of Intent to Purchase Example to your own computer and edit it to contain your personal information.

Analysis of Our Letter of Intent to Purchase Example

Because this is a formal business letter, our letter of intent to purchase example starts with the proper addressing. The first step is to place your name, address, and contact details in the top left corner of the page followed by a space, the date, another space, the recipients name and address, and finally a referral to the subject of the agreement. It will look like this:


Mr. John Taylor
16 W. Oxford Ave.
Englewood, CO 07645
Tel: 610-556-9973
Email: jtaylor@email.org

October 12, 2009

Mr. James Samuels
Quincy Real Estate
14 E. Quincy Ave.
Denver, CO 007145

Re: Residential property located at 1422 Cherry Hills Village, Denver.

The opening statement of your letter of intent must indicate that you are prepared to enter an agreement to purchase, and make it clear that your letter is an indication of such. In our letter of intent to purchase example we do it this way:

Dear Mr. Samuels,

Following are the fundamental terms upon which we are prepared to purchase the property at 1422 Cherry Hills Village. Please note that these terms are negotiable and will be incorporated into a final formal agreement to be conciliated at a later date. 

The most important part of a letter of intent is to clearly state the exact terms under which you are prepared to enter the agreement. This part is crucial, and it is highly recommended that you have this part of the letter examined by a lawyer. You must include items such as; the price you are prepared to pay, any financial arrangements to be followed, the names of all parties involved, what the product is and where it is located, and any other pertinent facts.

The simplest and clearest way to do this is to list the terms numerically. This also allows you to easily edit our letter of intent to purchase example for your own use, cutting the existing information out and pasting your own in.

The basic terms are as follows:

  1. Purchaser: Mr. and Mrs. John Taylor
  2. Vendor: Present owner of the Property represented by Agent: Mr. James Samuels of Quincy Real Estate
  3. Property: 1422 Cherry Hills Village, Englewood, Colorado free and clear of all encumbrances, debts, and charges at Closing.
  4. Purchase Offer: $55,000
    • $15,000 Initial Deposit
    • $10,000 Additional Deposit following removal of conditions.
    • $25,000 Balance
  5. Deposit: Upon implementation of the Agreement, the Purchaser agrees to deposit the sum of $15,000 which will be deemed fully refundable if the Conditions are not met or remitted in writing by the Purchaser. If at Closing the Purchaser defaults, the deposit of $15,000 will be kept by the Vendor as their solitary relief for losses incurred.

After you have outlined the terms to which the agreement is subject to, it is best to reiterate that meeting them is the only way the agreement can move forward. You would also do well to state that the letter is not legally binding, and that unless the particular terms and conditions are met it is null and void. Our completed letter of intent to purchase example thus looks like this:

Mr. John Taylor
16 W. Oxford Ave.
Englewood, CO 07645
Tel: 610-556-9973
Email: jtaylor@email.org

October 12, 2009

Mr. James Samuels
Quincy Real Estate
14 E. Quincy Ave.
Denver, CO 007145

Re: Residential property located at 1422 Cherry Hills Village, Denver.

Dear Mr. Samuels,

Following are the fundamental terms upon which we are prepared to purchase the property at 1422 Cherry Hills Village. Please note that these terms are negotiable and will be incorporated into a final formal agreement to be conciliated at a later date.

The basic terms are as follows:

  1. Purchaser: Mr. and Mrs. John Taylor
  2. Vendor: Present owner of the Property represented by Agent: Mr. James Samuels of Quincy Real Estate
  3. Property: 1422 Cherry Hills Village, Englewood, Colorado free and clear of all encumbrances, debts, and charges at Closing.
  4. Purchase Offer: $55,000
    • $15,000 Initial Deposit
    • $10,000 Additional Deposit following removal of conditions.
    • $25,000 Balance
  5. Deposit: Upon implementation of the Agreement, the Purchaser agrees to deposit the sum of $15,000 which will be deemed fully refundable if the Conditions are not met or remitted in writing by the Purchaser. If at Closing the Purchaser defaults, the deposit of $15,000 will be kept by the Vendor as their solitary relief for losses incurred.

This letter of intent incontestably states the main terms of the agreement to be met in order for the purchaser to move forward. It is by no means a legally binding document or agreement between the parties involved, and any transaction is completely subject to the terms and conditions being met. 

Sincerely,

John Taylor

Once you are satisfied that you understand how to compose your own letter you can Download This Letter of Intent to Purchase Example and edit it to meet your specific requirements.

Tips and Useful Sentences you Can Use with our Letter of Intent to Purchase Example:

  • Find out what the laws are in your area regarding the legality of a letter of intent.
  • Have your letter of intent reviewed by a solicitor or lawyer in your area.
  • Review your letter to make sure you have included all of the terms and conditions.

Category: Legal Letters Examples

About the Author ()

Melanie Walters is a writer and editor for several businesses both online and offline. Her experience with writing business letters and marketing materials has helped her understand exactly what works in written communication for businesses. In the 10 years she's been writing, Melanie has amassed a large collection of letter examples that she gladly shares with you here on Letter Example Help.org

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