Free Statement of Intent for Property Purchase

Overview

This Statement of Intent outlines the intent to purchase the property located at 123 Main Street, Springfield, IL 62701. It provides relevant information about the property, financial considerations, and key terms, serving as a preliminary understanding between the parties involved.

Property Details

• Property Address: 123 Main Street, Springfield, IL 62701

• Property Type: Single-family home

• Square Footage: 2,500 sq ft

• Year Built: 2050

Financial Considerations

• Purchase Price:
  The proposed purchase price for the property is $450,000, subject to appraisal and mutual agreement.

• Payment Terms:
  The following payment structure is suggested:

  • Initial Deposit: $25,000

  • Mortgage Amount: $400,000

  • Closing Costs: $5,000

  • Other Fees: $2,000 (title insurance, legal fees)

Basic Terms of the Agreement

This Statement is not a legally binding contract but represents the purchaser’s formal intent to acquire the specified property. The following preliminary terms are proposed:

• Inspection Period: 14 days

• Financing Contingency: 30 days

• Closing Date: December 15, 2050

• Additional Terms: Property to be sold "as-is," pending home inspection results. The seller is to leave all kitchen appliances.

Signatures

By signing below, the undersigned acknowledges the terms and conditions outlined in this Statement of Intent for Property Purchase.

Purchaser Name:

[Purchaser Name]

[Date]

Seller Name:

[Your Name]

[Date]

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