Fall Batching Expired Letters of Intent 2025

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Generally Non-Binding: Its important to remember that an LOI is generally not legally binding. This means that parties are not obligated to proceed with the transaction even if they have signed an LOI. However, an LOI may contain clauses within it that are legally binding, such as confidentiality.
Once they sign this agreement, theyre tied to this buyer until the deal closes, the LOI expires, or the parties back out of the sale.
Ideally, you clearly state the expiration date in the letter. If this date has passed, the letter is null and void. But it doesnt mean the parties cannot continue their deliberations. It simply means that the agreement reached in the original letter of intent is no longer binding.
An expired contract is a legally binding agreement that has reached the end of its term. Once the expiration date specified in the contract has passed, the parties are no longer obligated to fulfill the terms outlined in the agreement.
A COI is valid for the term of the policy, which will be disclosed in the coverages section of the COI under the Effective Dates column. Policy EXP declares the date the policy is set to expire. If the policy is canceled early, the certificate holder will be notified of the cancellation.

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If the letter of intent includes an end date, or financial limit, it will be necessary to either finalise the contract or issue a new (extended) letter of intent.
Expired listing letters work if you do them right. If you come across as genuine, professional, and able to help, sellers are eager to have your help in re-listing their property.

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