Want to create an interactive transcript for this episode?
Podcast: The Commercial Real Estate Investor Podcast
Episode: Stop Writing Offers Like a Residential Investor - Do This Instead | Office Hours
Description: Key Takeaways:LOIs are non-binding but criticalThey set the main business terms (price, timing, responsibilities) before you spend money on attorneys and full contracts.You must clearly state “non-binding”Put non-binding language in multiple places, plus a paragraph saying it is only a basis for preparing a formal contract.Use “and/or affiliated assigns” for the buyerThis lets you assign the contract to a new entity later and helps manage liability without having to rewrite the deal.Due diligence is your escape hatchDuring the DD perio...