ORION REAL ESTATE
630 First Street South
Waite Park, MN 56387
320.251.1177

Q:  What is a letter of intent and why is it used?

A:  A letter of intent is a preliminary agreement between a buyer and seller or landlord and tenant outlining the basic terms of the sale or lease.  It is the basis for the preparation of a mutually agreeable purchase agreement or lease and is a way to expedite a written understanding between the parties without incurring a lot of expense. 


If you have questions about buying or selling a business or other commercial real estate, please don’t hesitate to contact us at any time. 

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