You can formally state your intention to purchase a commercial property prior to writing a legal binding contract using a letter of intent (LOI) or memorandum of understanding. The letter of intent is presented to a seller in the preliminary stages of a commercial investment project. The intentions of a buyer or buyers representative, often [...]
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LOI stands for Letter of Intent and in non-franchise industry terms it is any document outlining details of an agreement between two parties before the agreement is finalized. When it comes to franchising and site selection, submitting an LOI is usually the step you take to initiate lease negotiations on a desired site. The LOI [...]
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