REAL ESTATE LETTER OF INTENT 
_______________________ 
_______________________ 
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Effective Date: _______________________ 
_______________________ 
_______________________ 
_______________________ 
RE: Intent to _______________________ 
This real estate letter of intent (the “Letter of Intent”) represents the basic terms for an agreement  between a ☐ Buyer and Seller ☐ Lessee and Lessor. After this Letter of Intent has been made, a  formal agreement may be constructed to the benefit of the Parties involved. 
I. The Buyer or Lessee: ________________________ (the “Buyer” or “Lessee”). II. The Seller or Lessor: ________________________ (the “Seller” or “Lessor”). III. Property Address: ________________________________________________ (the “Property”). Additional Description: _____________________________________________________________. IV. Property Type: The Property is defined as a ☐ commercial ☐ residential space. 
V. Real Estate Transaction: This Letter of Intent is for the ☐ purchase ☐ lease of the Property (the “Real Estate Transaction”). 
VI. Financial Terms: The Buyer or Lessee intends to: 
☐ - Purchase the Property for _______________________ Dollars ($___________) (the “Purchase Price”). 
☐ - Lease the Property for _______________________ Dollars ($___________) per month. Payments shall be made on the ____ day of each month with the first payment due upon the commencement of the lease (the “Base Rent”). 
VII. Payment Method: Payment of the Purchase Price or Base Rent shall be made in the following manner: 
_______________________________________________________________________________. 
VIII. Bank Financing: The Buyer or Lessee has made it known that their ability to pay the Purchase Price or Base Rent is ☐ conditional ☐ not conditional on their ability to obtain financing. 
If payment is conditional on financing, it shall be under the following terms:  
_______________________________________________________________________________.
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IX. Purchase Conditions: If the Real Estate Transaction is for the purchase of the Property, the following conditions shall apply: 
a) Closing. The Closing shall occur on _______________________, 20____, or earlier by mutual agreement (the “Closing”). Any extension to the Closing must be agreed upon in writing by the Buyer and Seller. 
b) Closing Costs. All costs associated with the Closing shall be the responsibility of ☐ the Buyer ☐ the Seller ☐ both Parties bearing their own expenses. 
c) Possession. Possession of the Property shall be given on _______________________, 20____, or earlier by mutual agreement (the “Possession”). Any extension to the Possession must be agreed upon in writing by the Buyer and Seller. 
d) Property Inspection. After a binding Purchase Agreement has been made, the Buyer shall hold the right to have the condition of the Property inspected by a person of their choosing. The inspection shall occur no later than ____ days after a Purchase Agreement has been made. 
e) Disclosure Report. After the Property has been inspected, the Buyer shall have an additional ____ days to report any new disclosures to the Seller in writing. If the Buyer and Seller cannot reach a mutual agreement within ____ days after delivery of the written disclosures, the Purchase Agreement shall be terminated with any earnest money being returned to the Buyer. 
f) Standstill Agreement. Following the execution of this Letter of Intent, and until the Closing, the Seller shall not negotiate for the sale of the Property with any other party unless either the Buyer and Seller agree in writing to terminate this Letter of Intent, or the Buyer and Seller fail to sign a Purchase Agreement by _______________________, 20____. 
X. Lease Conditions. If the Real Estate Transaction is for the lease of the Property, the following conditions shall apply: 
a) Late Rent. If the Lessee fails to pay the Base Rent for more than ____ days after it is due, a late fee of _______________________ Dollars ($___________) may be charged each day until the overdue amount is paid. 
b) Security Deposit. A security deposit in the amount of _______________________ Dollars ($___________) shall be due prior to or upon the signing of a lease. 
c) Subletting. The Lessee may not sublet the Property without first obtaining the prior written consent of the Lessor. 
d) Appliances and Furniture. The Landlord shall provide the following items for the use of the Lessee: __________________________________________________________________. e) Parking. The Lessor shall provide ____ parking space(s) to the Lessee for a fee of _______________________ Dollars ($___________). This amount shall be paid to the Lessor ☐ upon signing a lease ☐ on a monthly basis in addition to the Base Rent. f) Pets. The Lessee shall have the right to ____ pet(s) on the Property. The following types of pets are allowed: ___________________________________________________________. 
XI. Expenses: If the Real Estate Transaction is for the lease of the Property, the Lessee shall be required to pay the following monthly expenses in addition to the Base Rent: ________________________________________________________________________________ _______________________________________________________________________________. 
The Lessor shall be required to pay the following monthly expenses:  
________________________________________________________________________________ _______________________________________________________________________________.
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XII. Lease Term: If the Real Estate Transaction is for the lease of the Property, the term of the lease shall: 
☐ - Be a fixed period commencing on the ____ day of _______________________, 20____, and expiring on the ____ day of _______________________, 20____. 
☐ - Commence on the ____ day of _______________________, 20____, and continue as a month to-month tenancy. 
XIII. Lease Termination: If the Real Estate Transaction is for the lease of the Property, the lease may only be terminated under the following conditions: 
☐ - The Lessee shall have the right to terminate the lease by providing at least ____ days’ notice to the Lessor. 
☐ - The Lessee shall not have the right to terminate the lease. 
XIV. Binding Effect: This Letter of Intent shall be considered: (Initial and Check) 
____ - ☐ Binding – Therefore, the Parties acknowledge that remedies at law will be inadequate for  any breach of this Letter of Intent and consequently agree that this Letter of Intent shall be  enforceable by specific performance. The remedy of specific performance shall be cumulative of all  of the rights at law or in equity of the Parties under this Letter of Intent. 
____ - ☐ Non-Binding – Therefore, the Parties acknowledge that this Letter of Intent is not  enforceable by any Party. The terms outlined herein are solely for the purposes of reaching an agreement in the future, of which the ☐ Buyer and Seller ☐ Lessee and Lessor are not bound. 
XV. Additional Provisions: _____________________________________________________ ____________________________________________________________________________ ____________________________________________________________________________. 
XVI. Currency: All mentions of currency or the usage of the “$” icon shall be known as referring to the US Dollar. 
XVII. Governing Law: This Letter of Intent shall be governed under the laws of the State of _______________________. 
XVIII. Acceptance: If you are agreeable to the aforementioned terms, please sign and return a duplicate copy of this Letter of Intent by no later than _______________________, 20____. 
BUYER/LESSEE 
Buyer/Lessee Signature _______________________ Date _______________________ Print Name _______________________ 
SELLER/LESSOR 
Seller/Lessor Signature _______________________ Date _______________________ Print Name _______________________
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