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[Music] hi mark & Tennille Kennywood thank multi family today we're going to talk about step 7 submitting your LOI or your letter offer mark yeah whatever intent is what it stands for and first let's define what letter intent is it's a non-binding document want to say before contract so there are certain things a seller wants to know from a bra perspective what are you gonna what are you gonna pay for or how long did you deal with and things like that so think of it as a preliminary contract it's non-binding but it infusions you like a page you know and a half to two pages so it's pretty pretty small so nothing really big but you're gonna have things like if you go here earnest money how much money I'm gonna put down so earnest a deposit is a deposit so earnest money deposit sometimes you'll see is EMB it's gonna be generally speaking 1% for at least for what we buy one percent of the purchase price I can be more you can try to do a lesson not but that's kind of take away the standard...