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in todays video I will be discussing how to submit a letter of intent on a business that you want to buy a letter of intent usually abbreviated as Loi is a document that outlines the terms and conditions of the proposed business transaction it is often used in the early stages of the buying process to express interest in purchasing the business and to initiate negotiations with the seller to submit an Loi on a business there is a series of steps that you need to follow first you will research and identify a business for sale that aligns with your interests skills and financial capabilities weve already talked about that in previous videos go back in this how to buy a business series to watch those as you know that could involve contacting the seller directly or working with a business broker who can help identify businesses that match your criteria next youll negotiate the terms and conditions of the purchase including the price payment plan and any contingencies or conditions in th