Letter of Intent — Wash4Sale.com

Letter of intent to purchase

Dear Seller,

I am pleased to present this proposal to purchase your business at the following terms & conditions.

Business

I plan to purchase the following business.

I-10 & Federal location

Pasadena #1 location

Both locations

Purchase Price

I plan to purchase the business for the following price based on confirmation of the business during Due Diligence.

Cash Down

I plan to put the following amount of cash down for the business.

Financing

I plan to use the financing to cover the following amount.

Earnest Money

I will provide the following Earnest Money in advance of Due Diligence. It equals 2% of the Purchase Price & I understand that all earnest money (minus $1,000) is applicable and refundable until the end of the feasibility period. If the Purchaser (me) does not cancel the Purchase Contract Agreement at the end of the feasibility period, the deposit(s) will be applicable and non-refundable.

Due Diligence Period

By checking this box, I acknowledge that I have a period of 20 days after the receipt of this Letter of Intent to review the suitability of the property for intended use. If Buyer (me) at his sole discretion deems the property not acceptable for his intended use he may void the purchase agreement and his deposit will be returned in full (minus $1,000).

I acknowledge the Due Diligence timeline & terms

Closing

I acknowledge that the Closing will occur within 10 Days after the Due Diligence Period. Customary closing cost will be applied by the closing Attorney and will be split 50/50.

I acknowledge the Closing terms & conditions.

Name

First Name

Last Name

Date

YYYY

Letter of intent to purchase

LOCATIONS