Making the Offer

The Anatomy of a Letter of Intent

Part 6 - Sending It Along

Now that you’ve put it all together, it’s time to get it out the door…but how?

As you may know, we’re a pretty high-tech group over here on The Island and pretty much live by email, however things seem to have a bit more significance when they delivered by the U S Mail and that’s exactly how you should send the offer to the owner.

Since the text in Emails and/or Word documents are too easy to change and therefore make it harder to keep atop of the modifications to your original offer, sending your LOI via overnight mail is totally acceptable in that it conveys a sense of urgency. Sure it will cost you a few bucks and it's old-school...but that's the point. Since this is about your money, it's time to be conservative.

When all is said and done, you should find that the time and effort that you spent in creating a solid offer letter can potentially save you lots of time, aggravation and money. By flushing out a basic understanding of the terms and conditions on which you would enter a deal, you’ll know within a week if you have the foundation for a responsible deal that hopefully you can live with.

Otherwise, count your blessings that you didn’t get stuck with a bad deal with bad terms and keep looking for an opportunity that suits you and your business better.

 

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