Are you in discussions to buy commercial real estate property in Canada? Get the ball rolling prior to drawing up the formal purchase contract with this Canada Letter of Intent to Purchase Commercial Real Estate Property.
Signing a Letter of Intent will allow you to get a head start on site development, construction and financing before the closing date. The Letter of Intent summarizes the discussions between the parties including:
- The vendor will provide the purchaser with copies of all documents relating to the property and any tenants who are leasing space in the property, so that the purchaser can perform a full review prior to completing the transaction.
- Closing of the transaction is contingent upon several conditions precedent, including satisfactory inspection of the property and review of all documentation, and the purchaser being able to secure sufficient mortgage financing.
- The parties agree to keep confidential all information exchanged with respect to the discussions and the transaction.
This Canada Letter of Intent to Purchase Commercial Real Estate Property
is provided in MS Word format, and is fully editable to fit your specific circumstances.