Free Editable Simple Letter of Intent to Sell Property
Free Editable Simple Letter of Intent to Sell Property
This Letter of Intent (“LOI”) is made and entered into as of [Date] by and between:
[Seller Name], residing at [Seller Address] (“Seller”), and
[Buyer Name], residing at [Buyer Address] (“Buyer”).
1. Property
The property subject to this LOI is located at [Property Address] and is legally described as [Legal Description of Property] (“Property”).
2. Purchase Price
The purchase price for the Property shall be [Purchase Price] ([In Words]).
3. Earnest Money Deposit
Upon the execution of this LOI, Buyer shall deposit [Earnest Money Deposit Amount] ([In Words]) with [Escrow Agent Name] (“Escrow Agent”) as earnest money.
4. Closing
The closing shall occur on or before [Closing Date], or such other date as the parties may mutually agree to in writing.
5. Due Diligence
Buyer shall have [Number] days from the execution of this LOI to conduct due diligence investigations regarding the Property. During this period, Buyer may terminate this LOI for any reason by providing written notice to Seller.
6. Representations and Warranties
Seller represents and warrants that Seller has the full right, power, and authority to sell the Property.
7. Disclaimer
This LOI is not intended to create a binding agreement for the sale and purchase of the Property. A binding agreement shall be formed only upon the execution of a definitive Purchase and Sale Agreement.
8. Governing Law
This LOI shall be governed by and construed in accordance with the laws of the State of [State].
9. Entire Agreement
This LOI constitutes the entire agreement between the parties with respect to the subject matter hereof and supersedes all prior or contemporaneous communications, representations, or agreements, whether oral or written.
IN WITNESS WHEREOF, the parties have executed this Letter of Intent as of the date first written above.
Seller:
[Seller Signature]
Buyer:
[Buyer Signature]
Please Note:
This is a simple template and should be reviewed and modified by legal counsel to suit your specific situation and local laws.
This LOI is not a binding contract for the sale of the property. It is a preliminary document that outlines the parties’ intentions and may be subject to further negotiation.
Seek professional legal advice before signing any agreement related to real estate transactions.
Free Editable Simple Letter of Intent to Sell Property :
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