PSA TO SEARCHERS

professional profile

April 04, 2024

by a professional from The University of Texas at Austin - Red McCombs School of Business in Austin, TX, USA

PSA: Searchers, don't write your first LOI by yourself. Just don't. And no long, complex emails to sellers. Just no.

  1. Get help with an LOI until you know what you are doing.
  2. Keep written materials to sellers as simple as possible.
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commentor profile
Reply by a professional
from Villanova University in West Chester, PA, USA
^redacted‌ Agreed, this is why we created our complimentary LOI Masterclass & Checklist & the Acquisition Insights Course to support buyers. And since it's become so prevalent, we offer a flat fee for drafting and negotiating an LOI.
commentor profile
Reply by a lender
from University of Georgia in Atlanta, GA, USA
I have recently had some deals where there is no representation on either side. That makes it a challenge as the LOI was an actual letter saying "I intend to buy your business". Getting details like a target price, if you want a sellers note, etc. are important.
commentor profile
+3 more replies.
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