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Type of Letter of Intent



Frequently Asked Questions

What is a letter of intent?A Letter of Intent is NOT binding on either party and is only an expression of an intent to continue negotiations in good faith.

Purchaser Info






Add another Purchaser

Seller Info






Add another Sellers


Transaction Description



Enter the address of the property to be purchased.
(e.g. 1430 - 103 Street, Boulder, Colorado, 81210)


(e.g. Lot 4, Block 3, Hillside Acres, County of Boulder, State of Colorado)


Frequently Asked Questions

Legal property descriptionYou should be able to obtain the legal land description of the property from the County Recorder's office (may also be called County Clerk or Register of Deeds office). The legal land description of the property may also be found on the land title, in tax assessment information, and in the mortgage agreement.

Purchase Price

$

$
Leave this field blank (zero) if no deposit is required.






Terms




Fixtures are items/chattels that are generally bound to the home and are not easily removable.


Additional Clauses



Frequently Asked Questions

When should I include an additional clause?Including additional clauses is entirely optional. If there is an issue which has not been addressed in any of the previous questions you may wish to deal with it here.Write using language that is simple and conveys ideas with the greatest possible clarity and avoids using legalese.

Legalistic StylePlain English
at the present time now
due to the fact that because; since
during such time aswhile
for the duration ofduring
inasmuch asbecause; since
in the event thatif
notwithstanding the fact that although; even if
prior to before
pursuant to under; in accordance with
subsequent toafter
that certaina
with reference toabout

Do not use several names or words to refer to the same person or thing as it could cause confusion and ambiguity by appearing to introduce new or different people or items.

Certain words are defined and capitalized in this Agreement. For example, a seller is called the "Seller". Use the same predefined terms in your additional clauses.

Do not use pronouns such as: they, us, we, our, you, or me. Pronouns may be ambiguous and can cause confusion. e.g.:
  • Wrong: If they are late with delivery, we will be entitled to a reasonable penalty as compensation.

  • Right: If the Seller is late with delivery, the Purchaser will be entitled to a reasonable penalty as compensation

Do not abbreviate words.

Use numerals, not words, to denote amounts.

Try not to repeat or contradict what has already been stated in the Operating Agreement.

Only put one paragraph per additional clause.

Order your additional clauses in a logical sequence.

Make sure your meaning is clear.

Spell-check your clause.

Signing Details




Frequently Asked Questions

Execution Date:The Execution Date is the date the letter will be signed by the parties.


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