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Updated about 5 years ago on . Most recent reply
Letter of Intent for land development?
What do you recommend for a proven template for a real estate letter of intent on commercial land purchase? Land to be developed for residential assisted living homes. Thanks in advance!
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Greg Dickerson
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Greg Dickerson#2 Land & New Construction Contributor
#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
Originally posted by @Eric Schmoll:
What do you recommend for a proven template for a real estate letter of intent on commercial land purchase? Land to be developed for residential assisted living homes. Thanks in advance!
You need to spell out parties to the transaction, purchase price, earnest money deposit, feasibility study period, entitlement period, closing date, place of of closing.
You do not want to close until you get all of your entitlements.