What is a reasonable LOI exclusivity duration? This is my first acquisition so I will need more time to line up professional services. I don't want to run out of time but also want to be fair to the seller.
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The trick, especially as a first-time searcher in such a situation, is convincing a difficult broker that you are, in fact, very serious about this transaction, you are a great buyer candidate, and you will not be wasting time during that LOI period - and then back up that promise with your actions and start working diligently toward Closing.