Looking for a sample LOI/ language for deal inclusive of real estate purchase

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by a searcher from Dartmouth College - Tuck School of Business at Dartmouth
in Chicago, IL, USA

1yr ago

Looking for a sample LOI/ language for deal inclusive of real estate purchase

I am working on an LOI for a deal that includes real estate, and I can't find any sample LOIs for deals that are inclusive of real estate.

Has anyone seen any online? Do you have an example that you can share?

Thank you!

1 Like

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reply by a lender 1yr ago
from Eastern Illinois University in 900 E Diehl Rd, Naperville, IL 60563, USA

Happy to assist as well if you want to shoot me an email at redacted Honestly, the language is typically not complicated. However, it depends on how much you want to include related to the real estate purchase. I often see most buyers just set a price for the real estate and indicate it needs to appraise out with the lender. If you want to be more thorough you would want to include language about needing a survey, environmental report, property inspections, etc. But I do not see most buyers including this language in LOI's.

reply by an intermediary 1yr ago
from Clemson University in Raleigh, NC, USA

You need to retain a transaction attorney. The LOI becomes the backbone of the definitive agreement and should not be derived from a draft or internet search. Anyone providing a draft that is not a licensed attorney in your jurisdiction is likely in violation of state law that prohibits practicing law without a license.