Letter of Intent to Purchase Real Estate
Company Name: XYZ Private Limited
Address: 9124 Winchester Avenue
Alabama, KY 42145
Subject: A letter of intent to buy the real estate property with reference to our conversation held on 18.07.2019
Dear Dr.Joey Thomson,
This letter of intent is subjected to the definitive and mutually accepted agreement on the sale of the real estate property West Golden Star Court Fairhope, AL 36532. The undersigned offer from the purchase of the property is subjected to the terms and conditions referred as follows.
Seller Information: Dr.Joey Thomson, 9163 NE. Wayne St. Middleton, WI 53562
Buyer Information: Mr. Mark Evangelist 7524 Greenrose Street Glen Ellyn, IL 60137
Initial deposit: The proposed price for the real estate property mentioned above is $225000. The buyer shall therein pay the sum of $100000 as only a refundable deposit from the purchase price.
Second Deposit: An additional amount of $75000 will be paid as a non-refundable deposit after entering into the purchasing agreement.
Feasibility Period: the buyer gets a feasibility period of three months for performing all the due diligence subjecting to the property of purchase.
Closing Costs: The document and the registration cost shall be on the buyer and this will be included while entering the purchasing agreement.
Standard provision: The buyer and seller can use the letter of intent to continue the negotiations and purchase agreement on the acceptance of the letter.
Stand Still: The letter shall be withdrawn from the proceeding if the buyer have not paid the full amount after the feasibility period or if found that the seller continues further negotiations with other buyer before the feasibility period.
The above statements clearly define the mutual concern in proceeding with the purchse of this real estate property. If you are agreeing upon these terms kindly sign the letter and return back as soon as possible.
Mr. Mark Evangelist
The above letter reflect the mutual understanding between both seller and buyer for the purchase of the property.
Dr. Joey Thomson Mr. Mark Evangelist
Date of Acceptance