Draft the LOI that opens the deal

1 · Learn the move · Enhance the Output

An LOI is short, and its shape does the work. A holder buying land is not buying a building, so the sections that matter are not the ones in a generic template: which of your entities takes title, the parcel by identifier and deed reference rather than a street address that may not describe it, a due-diligence period long enough to get a title commitment, a survey and a written zoning verification, and, when the parcel is one piece of a block, whether your obligation is tied to getting the adjoining piece. So hand the model your rough notes and tell it exactly what to add. Then give it the one instruction that keeps it honest: every term you did not supply is a bracketed blank, never a plausible number. Vague words in your notes - 'decent deposit', 'close quick' - become blanks too, because a model will happily turn 'quick' into thirty days. You are drafting for your counsel to finish, not for the seller to sign.

Enhance my rough notes into a one-page non-binding letter of intent for land. Add these sections in order: buyer entity, seller as named on the deed, parcel by identifier and deed reference, price, deposit, due diligence and what it covers, adjoining-parcel condition, assignment to an affiliate, closing, non-binding clause. Any term I did not give, and any vague word in my notes, becomes a bracketed blank.