A Letter Of Intent To Purchase Commercial Property is a crucial preliminary document used in the United States real estate market when a prospective buyer wishes to formally express their interest in purchasing commercial property and outline the basic terms of the proposed transaction. While generally non-binding, it serves several important purposes: it demonstrates the buyer's serious intention, establishes the framework for negotiations, and typically secures an exclusivity period for due diligence. The document is commonly used before committing to a full purchase agreement, allowing parties to address key terms such as price, payment structure, and contingencies while maintaining flexibility. It's particularly valuable in complex commercial transactions where significant due diligence is required and multiple stakeholders are involved. The document must comply with federal and state-specific real estate laws and regulations, though its specific contents may vary based on the nature of the property and the transaction's complexity.
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1. Date and Address Block: Standard business letter header with current date and recipient's address
2. Parties: Full legal names and addresses of both the prospective buyer and seller
3. Property Description: Detailed description of the commercial property including address, legal description, and any included fixtures or equipment
4. Purchase Price: Proposed purchase price and any price adjustment mechanisms
5. Payment Terms: Structure of payment including deposits, financing conditions, and payment schedule
6. Due Diligence Period: Timeframe and terms for conducting property investigations and reviews
7. Closing Timeline: Proposed timeline for completing the transaction
8. Confidentiality: Terms regarding the confidential treatment of information exchanged
9. Non-Binding Nature: Clear statement that the LOI is non-binding except for specified provisions
10. Exclusivity Period: Period during which seller agrees not to negotiate with other parties
11. Signature Block: Space for signatures of authorized representatives of both parties
1. Broker Representation: Include when real estate brokers are involved in the transaction
2. Environmental Conditions: Include when environmental investigations or concerns are a significant factor
3. Existing Leases: Include when the property has existing tenants and lease agreements
4. Zoning Contingencies: Include when specific zoning requirements or changes are necessary
5. Property Management: Include when discussing transition of property management responsibilities
6. Assignment Rights: Include when buyer may want to assign rights to another entity
7. Seller's Obligations: Include when specific actions are required from the seller before closing
8. Special Conditions: Include when there are unique circumstances affecting the transaction
1. Schedule A - Property Details: Detailed legal description of the property and included assets
2. Schedule B - Due Diligence Requirements: List of required documents and investigations
3. Schedule C - Timeline: Detailed timeline of key dates and deadlines
4. Appendix 1 - Required Disclosures: Any mandatory property or transaction-related disclosures
5. Appendix 2 - Property Plans: Relevant property plans, drawings, or surveys
Relevant legal definitions
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Relevant Industries
Real Estate
Commercial Property Development
Retail
Healthcare
Hospitality
Manufacturing
Logistics
Professional Services
Education
Technology
Banking and Finance
Industrial
Relevant Teams
Legal
Real Estate
Finance
Corporate Development
Facilities Management
Risk Management
Business Development
Operations
Investment
Procurement
Property Management
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Real Estate Director
Property Development Manager
Corporate Counsel
Real Estate Attorney
Investment Manager
Facilities Manager
Business Development Director
Asset Manager
Commercial Property Manager
Acquisitions Manager
Risk Manager
Real Estate Broker
Corporate Real Estate Manager
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