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A Letter of Intent is a written document that outlines a preliminary agreement between two parties regarding the terms of a potential purchase or other transaction. The two parties can settle on certain terms while agreeing to continue to negotiate the other terms and details of the transaction before actually signing a purchase agreement.

Purchase of a Business » used between the Seller of business and a potential Buyer of a business. Eventually, you would use a Business Purchase Agreement to complete the deal. Purchase of Real Estate » used between the Seller of real property and a potential Buyer of the real property. You would use a Real Estate Purchase Agreement to complete the deal. Purchase of General Property » used between the Seller of personal property, such as a car or jewelry, and a potential Buyer of the personal property. You would use a Personal Property Purchase Agreement to complete the deal. Other Transaction » used between parties to document a potential transaction, such as providing goods or services over a given period of time.

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