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Understanding what a Letter of Intent is and when to use them is a bit confusing. But basically, this letter just means you are serious about continuing towards a purchase and that you want the other party to stop entertaining other offers. Our Letter of Intent template is suitable for all states.

Here are some other terms that may also be included: Confidentiality » the agreement and any information learned will remain confidential. Covenants » things each party must do while negotiations are taking place. Special Terms » any special terms that the parties agree will be in the purchase agreement, such as leaving certain items of furniture or hiring certain employees.

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