EXCLUSIVITY CLAUSE IN LOI - IS IT REALLY NEEDED?
All - a basic question really. Is the exclusivity clause, which prevents the Seller from engaging with other bidders for say 90 days, really needed in the LOI? If as a Buyer, I am confident that with the resources at hand, I can get to the purchase agreement faster than any other bidder and further, since most Sellers/Brokers seem to care about closing speed as much as valuation, is this clause really value added for a Buyer? What am I missing? Appreciate thoughts.