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What is a Letter of Intent in Real Estate? A letter of intent, commonly referred to as an LOI, is a simple, 1-3 page document that prospective buyers or tenants use to outline the terms of their offer for a property.
What is a letter of intent in real property?
An intent to occupy letter from a buyer may be required by some mortgage lenders. The letter must contain specific details requested by the lender and state the buyers intention to live on the property and use it as a primary residence.
What is a letter of intent in Cook County?
NOTE: Letters of Intent need to be submitted by whomever is performing work on the permit request. In there most basic form, a Letter of Intent simply states WHO is performing WHAT trade and WHERE. A Scope of Work should be provided by the contractor if one is being used.
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