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hi this is John Goodman once again and we are talking today about the problems with letters of intent and how to avoid those problems with letters of intent now let me begin by saying I am sure there are situations where sellers and buyers of real estate entered into letters of intent and the whole process goes smoothly and nobody has remorse and the buyers and sellers live happily ever after but nobody calls me about those situations I get calls about situations where parties have remorse about letters of intent and they also are surprised to find out that the letters of intent are stickier more binding than they expected them to be so how do we avoid those problems first we have to understand why theyre tempting one of the reasons that letters of intent are so tempting is that as much as people hate to engage lawyers to help them put transactions together they hate engaging waiters less if theyre pretty confident they have a deal so the idea of a letter of intent is is that people
