COMMERCIAL LETTER OF INTENT TO PURCHASE

(TXR-1803) 07-08-22 Initialed for Identification by Seller: _____, ______, and Buyer: ______, ______ Page 1 of 3

USE OF THIS FORM BY PERSONS WHO ARE NOT MEMBERS OF THE TEXAS ASSOCIATION OF REALTORS®, INC. IS NOT AUTHORIZED.

©Texas Association of REALTORS®, Inc. 2022

This letter of intent summarizes the general terms of a proposed purchase and sale agreement between Seller

and Buyer. The terms of this letter of intent are not binding upon either Seller or Buyer.

SELLER:

Address:

Phone: E-mail:

Mobile: Fax or Other:

BUYER:

Address:

Phone: E-mail:

Mobile: Fax or Other:

PROPERTY:

SALES PRICE: $ , being:

 cash in the amount of ..... .......... ........... .......... $______________

 Third Party Financing totaling .... ........... .......... $______________

 Assumption of existing loan with a balance of .. $______________

 Seller Financing in the amount of .......... .......... $______________

EARNEST MONEY: $

TITLE COMPANY:

FEASIBILITY PERIOD: days after the effective date.

FINANCING CONTINGENCY days after the effective date.

CLOSING DATE:

 _________ days after the expiration of the feasibility period.

 _________________________ (specific date).

 ______________________________________________________________________

TITLE POLICY: Cost paid by  Seller  Buyer.  Seller  Buyer will pay the additional cost for the

modification of the standard printed survey exception.

SURVEY:

 Buyer will obtain new survey at Buyer’s expense. Seller will reimburse up to $__________ of cost.

 Seller will obtain new survey at Seller’s expense. Buyer will reimburse up to $__________ of cost.

 Seller will provide Seller’s existing survey.

Letter of Intent concerning:

(TXR-1803) 07-08-22 Initialed for Identification by Seller: _____, ______, and Buyer: ______, ______ Page 2 of 3

EED TYPE:  general  special warranty deed.

BROKERS:

epresenting Seller:

Representing Buyer:

eller will pay fees:  as specified by separate written commission agreement, or  as follows

Seller’s Broker a total cash fee of: Buyer’s Broker a total cash fee of:



% of the sales price.  % of the sales price.

 .  .

NOTICE: Chapter 62, Texas Property Code, authorizes a broker to secure an earned commission

with a lien against the Property.

PROPERTY CONDITION: Buyer will accept the Property in its present condition except that Seller, at Seller’s

expense, will complete the following before closing:

ASSIGNMENT: Buyer  may  may not assign the contract.

SPECIAL PROVISIONS:

NON-BINDING: THIS LETTER OF INTENT IS NOT INTENDED TO BE A LEGALLY-BINDING AGREEMENT

OF PURCHASE AND SALE. NEITHER PARTY SHALL BE BOUND OR HAVE THE OBLIGATION TO PURSUE

NEGOTIATIONS OR ANY OTHER OBLIGATIONS OF ANY KIND, UNLESS AND UNTIL A DEFINITIVE

CONTRACT IS HEREAFTER SIGNED AND DELIVERED BY THE PARTIES. NO DEFINITIVE CONTRACT

SHALL BE ENTERED INTO UNLESS IT IS SATISFACTORY TO BOTH BUYER AND SELLER, IN THEIR SOLE

DISCRETION.

If this proposal is acceptable, please indicate by signing below and returning a fully executed copy of this letter

to my attention.

 Seller  Buyer will prepare a draft of a purchase and sale agreement utilizing the current Texas REALTORS

orm 1801 (Improved), 1802 (Unimproved), or such other form as the parties agree.

EXPIRATION: If the party receiving this letter of intent desires to pursue negotiations along the terms detailed

in this letter of intent, the party delivering this letter of intent requests that the receiving party sign a copy of this

letter of intent, and deliver the signed copy to the delivering party by 5:00 p.m. on _____________, ________.

Letter of Intent concerning:

(TXR-1803) 07-08-22 Page 3 of 3

Seller:

Buyer:

By:

By (signature):

Printed Name:

Title: Date:

By:

By (signature):

Printed Name:

Title: Date:

By:

By (signature):

Printed Name:

Title: Date:

By:

By (signature):

Printed Name:

Title: Date: