I recently signed an LOI for a light excavation and home services type business. Then 6 weeks later I canceled the LOI and walked away. It was the farthest I ever got on a brokered deal and I learned a lot of lessons. I would like to share a few here. 1- Seller's Brokers are not on your team. In my case the broker told me after I signed the LOI I was not the ideal buyer and seemed not interested in any of the evidence I found during Due Diligence to suggest a lower price, and by consequence the sellers were not either. 2- Avoid using lenders suggested by the seller's broker. There may be a conflict of interest. One lender recommended to me by the broker who agreed with my lower price asked me not to mention it to the broker since he needed the referral business. 3- Rushing an LOI is not worth it and will likely cause more work later. The broker put it in my head that I needed to send an LOI as soon as possible, so I did. Had I taken the time to think and analyze more I would have sent and very different offer, which likely would have been rejected or given me answers sooner rather than later. I hope this helps someone out there. Keep on searching.