How to Write Real Estate Letter of Intent to Purchase Property
Spending money on real estate is a huge thing in life, so when you decide to do it, you must be sure to take every step needed. Writing a real estate letter of intent to purchase is one of those steps that can make a huge difference. Having this letter will allow you to set the outlines of the sale in prospect. A real estate letter of intent to purchase is used when you want to think about some terms and decide on them before doing the purchase.
You would also like to use the real estate letter of intent to purchase property if:
- You need to document the terms that were agreed tentatively before the property purchase but you do not want to commit to the sale;
- You are a buyer and want to show the seller a proposed purchase and evidence of it;
- You need to document the terms that were agreed tentatively to ensure the property purchase;
This type of letter is usually used to document the progress that leads to the sale and to minimize any misunderstandings that might come up. The buyer is also securing the financing with it. But, remember that the real estate letter of intent to purchase is not a contract that binds you, so the property owner can decide to sell his property to someone else if he thinks that’s better.
When starting with the writing, first read the instructions. All proposals, applications and procedures that require a real estate letter of intent offer instructions about the information that is needed from you. Go the real estate company’s website. If you can’t find the info there, then you can always make a phone call. You also need info like name and address of the person that will receive the letter.
Write down notes about the things that you want to include in your letter. Think about each part separately and organize them as you would like the order in the letter to be. You need comprehensive information and rich content.
Don’t stick to the first draft. Go through it as many times as you need and add and delete and edit things. Changes that should be done will come up naturally while you’re reading the letter. That’s a great way to have a finished letter that will be perfect and will respond to the requirements.