As to avoid any issues you could always close on the property and then list it on the MLS the next day/market it to your hearts content.

At the beginning of 2014 I received my tax return and decided it was time to stop reading about investing in RE and start doing. I took $2,000 and placed a offer on 2 HUD properties. One was a Town Home (TH) and the...

You notice that Bigger Pockets Members are friendly, warm hearted, paying it forward people. 

However; we ended up moving to southern California, and staying in development, but my heart is always in the country.

I will fulfill the desires of my heart!

The LOI is simply an understanding between the parties, it can be structured to have teeth but that beyond the scope of this question.An option when executed properly invokes an equitable interest in the property and depending on how it's written can force a sale should the seller later have a change of heart, file bankruptcy, or die. 

Working 16 hours a day, 7 days a week, year in and year out is not possible unless your heart is in it.

@Robert Taylor a long read but I will definitely take your advice to heart.

Originally posted by Don Konipol:If they can not obtain needed financing for whatever reason, then they are not able to pay that amount and hence that amount can not be considered market value.Nice post Don.This passage above gets to the heart of the matter.

I also fixed their building a couple of years back when a guy had a heart attack and launched his truck fully into their office.