Questions about letter of intent

[Freeman Schultz]

I have the following questions regarding a letter of intent.

1. I heard that the bank requires tax returns to produce a letter of intent. Do they need anything else?

2. What does the letter of intent entail? Does it show the amount the borrower is allowed to borrow from the bank?

3. I have heard that in commercial real estate a letter of intent is required for the initial offer. Is this true?

4. Are there any fees entailed with a letter of intent?