Earnest dictionary definition | earnest defined

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Sample Letter of Intent to Sell House

Based on the information supplied to us, we are prepared to proceed with the acquisition of the subject Property under the following general terms and conditions: The Property will be delivered free and clear of all liens and encumbrances, and subject only to the lease described in the offering memorandum. The Lease is set to expire in the year The Lease is trip net to the landlord for all costs associated with the operation and maintenance of the Property, including the roof and structure.

The Purchaser shall also pay for the Phase I ESA, and any other third party reports, including appraisals, it may require.

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Investigation Period - Purchaser will require a due diligence investigation period lasting no more than thirty 30 calendar days from the effective date of contract. In addition, Seller will provide the detailed offering memorandum, if available, the Lease and other due diligence information as Purchaser may reasonably request.

If the results of this investigation lead Purchaser to believe the Property will not perform in accordance with its objectives, then the contract will be terminated. Closing - The closing will occur within ten 10 calendar days after the expiration of the Investigation Period. Contract Period - The parties recognize this letter is intended to be a non-binding expression of interest and a basis to proceed to a formal purchase contract.

Commission — Seller and Purchaser shall indemnify the other against any claim for a brokerage commission or related fee s by a third party as it relates to the assets contemplated herein. Both parties mutually represent to each other that they have not dealt with any broker with regards to this sale.

Within three 3 business days of our receipt of this letter acknowledging your acceptance, we shall forward a Sale and Purchase Agreement for your review.

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Realizing time is of the essence, we will try to expedite the process and use facsimile transmissions and e-mail as acceptable forms of communication and acknowledgements. Unless this letter is signed and returned by 5: We look forward to your response and working towards the consummation of this transaction. Agreed and accepted by Purchaser: Agreed and accepted by Seller: