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Intent to Purchase Real Estate

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Intent to Purchase Real Estate Basics

Reviewed by Rocket Lawyer On Call Attorney  William Petzel, Esq

Buying real estate is a big decision, so it's important to get every step in writing. An Intent to Purchase Real Estate letter gives you an outline of the prospective sale. Use an Intent to Purchase Real Estate letter when you want to decide on the terms of the deal before committing to the purchase.

Use the Intent to Purchase Real Estate document if:

  • You want to document the terms tentatively agreed upon for the purchase of property.
  • As a buyer, you want to provide your lender with some evidence of a proposed purchase of property.
  • You want to document the terms tentatively agreed upon for the purchase of property without committing to the sale.

An intent to purchase real estate letter is used to minimize misunderstanding and document progress towards a sale. It's also a great way for a buyer to help secure financing. This intent letter is not a binding contract, which means the property owner can still sell the property to someone else. This document is also sometimes called a letter of intent to purchase real estate or an intent to purchase real property letter.


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Intent to Purchase Real Estate Basics

An intent to purchase real estate letter is used to minimize misunderstanding and document progress towards a sale. It's also a great way for a buyer to help secure financing. This intent letter is not a binding contract, which means the property owner can still sell the property to someone else. This document is also sometimes called a letter of intent to purchase real estate or an intent to purchase real property letter.

Use the Intent to Purchase Real Estate document if:
  • You want to document the terms tentatively agreed upon for the purchase of property.
  • As a buyer, you want to provide your lender with some evidence of a proposed purchase of property.
  • You want to document the terms tentatively agreed upon for the purchase of property without committing to the sale.
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