Real Estate Letter of Intent

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Lease Term

Days

Most commonly is a 30-day period.

Such as a 1-year lease.

The 1st day of the lease period.

The last day of the rental period.

Excluding renewal options.

This should exclude renewal options.

The Deal

$
The sales price for the property.
$
$
of the Month
of Each Month

Rent Payment Instructions

Expenses

Renewal Periods

Late Rent

Security Deposit

$

Commonly equal to one (1) month's rent.

Subletting

Residential Property

A half (0.5) bathroom is one with only a toilet or a shower/bath. If a bathroom has both, it's considered a full (1.0) bathroom.

The Property (Address)

Parking

Furnished

Specifically, will the Property have furniture in it other than appliances (ex. microwave, refrigerator, stove, etc.).

Pets

Landlord / Seller

Business Entity (Landlord)

Landlord

Business Entity (Seller)

Seller

Individual(s) (Landlord)

Individual(s) (Seller)

Mailing Address

Business Entity (Tenant)

Business Entity (Buyer)

Buyer

Individual(s) (Tenant)

Individual(s) (Buyer)

Mailing Address

Commercial Property

SF

For example, if it's a condominium it would NOT include real estate.


Typical residential and commercial properties will include land with the purchase.

This is the Total Square Feet (SF) of space.

Contingencies

In other words, does the Buyer need a loan or a mortgage from a bank to buy the property.
The most common time period is 30 days but can be any time period agreed upon by the Buyer and Seller.

The Closing

A Closing is when the buyer pays for the property and takes ownership. This Date when the closing must occur is the last day the Buyer has before the agreement becomes void.

This is the last day the Buyer has to buy the property.

Formal Agreement

If not, then this Letter of Intent could be considered non-binding and legally enforceable.

If this Letter of Intent is considered binding, then both parties will be required to uphold their end of the agreement included in this letter.

Parties Must Agree (by Date)

If both Parties don't agree by this date, this Letter of Intent will become void.

Additional Terms

Select "Yes" if there are any other additional terms or conditions that should be added to this Letter of Intent.

Effective Date

Usually today's date.
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