Commercial Real Estate Offer Letter
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How to write a Commercial Real Estate Offer Letter?
Create a comprehensive and well-structured Commercial Real Estate Offer letter quickly using our customizable template. Our step-by-step process ensures that you include all essential details:
- Identify the Property Type and Location: Specify whether the property is a commercial building, office space, retail property, industrial site, or another type of commercial real estate. Include the state and city where the property is located, as well as the exact property address.
- Include the Legal Land Description: Obtain the legal land description from the Land Registry or Land Titles office. It can also be found on the land title, tax assessments, or Mortgage Agreement. You may choose to incorporate this description directly in your Offer letter or attach it separately.
- Detail Property Features and Inclusions: Clearly list any features, fixtures (like HVAC systems, lighting, or built-in structures), or improvements included in the sale. You may also specify movable items, such as office furniture or equipment, if applicable.
- Add Buyer and Seller Information: Provide the full legal names and addresses of both the buyer (including company name and representative) and the seller.
- State the Purchase Price and Deposit Information: Include the proposed purchase price, and outline the details of the deposit, such as:
- Deposit amount
- Payment method (e.g., wire transfer, certified check, etc.)
- Deposit due date
- The escrow agent’s name and details: An escrow agent is a neutral party who holds the funds securely until the sale is finalized.
- Select a Closing and Possession Date: Specify the intended closing date and the date the buyer will take possession. This is generally at the time of closing and funding. Keep in mind that real estate transactions often provide a buffer period between the offer and closing dates to allow for financing arrangements, inspections, or other conditions to be addressed.
- List Any Conditions: Outline any conditions that must be met before the sale is finalized, such as obtaining financing, performing property inspections, or securing zoning approvals. Specify the deadlines by which these conditions need to be satisfied.
- Set an Offer Acceptance Deadline: Include a deadline for the seller to accept the offer. Make sure the acceptance deadline is reasonable, allowing enough time before the proposed closing date for the seller to review the offer and organize sale logistics.
Don't reinvent the wheel every time you start to work on a real estate purchase LOI. Instead check this sample:
Commercial Real Estate: The purpose of this Letter of Intent is to set forth the general terms and conditions under which Real Estate, a commercial real estate investment focus fund and/or assignee is
interested in buying the above referenced property.
The Buyer and Seller agree that the terms set forth below are not all of the material terms that need to be agreed to by them. There are additional material terms that the parties will negotiate as they complete the Purchase Agreement and Escrow Instructions.
If the terms below stated are acceptable, it is our intention to negotiate the remaining material terms and complete a Purchase and Sale Agreement and Escrow Instructions within two (2) days of the date this Letter of Intent is ratified by the parties.
This standardized Commercial Real Estate Offer Letter template with text and formatting as a starting point to help professionalize the way you are working.
Using this LOI legal document template guarantees you will save time, cost and efforts! It comes in Microsoft Office format, is ready to be tailored to your personal needs. Completing your document has never been easier!
Download this Commercial Real Estate Offer Letter template now for your own benefit!
DISCLAIMER
Nothing on this site shall be considered legal advice and no attorney-client relationship is established.
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