Letter of intent

I was in a pool, and after receiving a bid, signed a letter of intent. Does anyone know what that process involves? They made it sound so great because you would not have to wait for a draft to clear, but it seems like it is going to take longer. Just wondering if anyone else has experienced anything like this. Thanks.

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Permalink Reply by SL on September 3, 2008 at 6:07
I don't know! Would it say on the letter?
Permalink Reply by Snake Stewart on September 3, 2008 at 6:33
There have been several threads in regards to this situation. There is some great info on this site if you take the time to search.You need to check with someone in the know if you are concerned about your deal. These deals we make now could last forever. Many opinions have been voiced but the wording of the letter will dictate what kind of stipulations you may have to deal with , time wise anyway.

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