Letter of Intent
(Commercial Purchase and Sale)

Summary

This Letter of Intent template is for use in a commercial purchase and sale transaction to document the parties' understanding regarding the proposed acquisition of real property. It includes practical guidance, drafting notes, and optional clauses. The template should include the key terms of the proposed transaction. This template may be tailored to suit each transaction. For additional guidance, see Commercial Purchase and Sale Agreements. The parties often negotiate and execute a letter of intent as one of the preliminary steps in the process of a commercial real estate purchase and sale transaction as shown in the following process map. For a discussion of letters of intent in general, see Letters of Intent. For an in-depth discussion of letters of intent for specific types of transactions, see Letter of Intent for Hotel Acquisitions, Letter of Intent in the Industrial Leasing Process, Letter of Intent in the Office Leasing Process, and Letter of Intent in the Retail Leasing Process. For a full listing of key content covering purchasing and selling commercial real estate, see Purchasing and Selling Commercial Real Estate Resource Kit. For an alternate letter of intent template, see Current Legal Forms with Tax Analysis FORM 21.14B. For templates that are more jurisdictional and transaction-specific, see Letter of Intent (Farm and Ranch Purchase) (TX) and Letter of Intent (Commercial Purchase and Sale) (CA). For a list of key resources covering real estate-related tasks for associates, in-house attorneys, and interns, see First Year Associate Resource Kit: Real Estate, Summer Associate Resource Kit: Real Estate, In-House Real Estate Resource Kit, and Federal Government Summer Intern Resource Kit: Real Estate. For a list of key resources covering commercial leasing-related tasks for a junior associate, see Junior Associate Real Estate Resource Kit (Commercial Purchase and Sale). To compare state laws on letters of intent, see the Commercial Real Estate Leasing Topic in the Real Estate State Law Comparison Tool.