Noob agent question: Where can I obtain a LOI template?
As stated, where does one obtain an LOI template? I know that theses letters could and should be customized, but I'd love to have a pre-made template as a starting point. My broker typically deals with residential only and I prefer to have a template specifically catered to CRE.

Any info guiding me in the right direction would be greatly appreciated.
[{"id": "il4e2go", "text": "What my office does is ask listing agent for their template that way it is easier for them to understand what we are offering since they know their templates and documents better.", "replies": [{"id": "il4ef5e", "text": "&gt;a\n\nOh, that's great idea!! Curious--is this a somewhat normal industry practice or do agents/brokers typically have their own template?", "replies": [{"id": "il4fde2", "text": "Offices typically have their own templates, at least in my area.  It varies slightly but for the most part they are very similar.  The template we have been using a little more lately is a simple one.  In a pm send me your email and I can send you our template.", "replies": [], "depth": 3}, {"id": "il506n9", "text": "My office has their own.", "replies": [], "depth": 3}, {"id": "il6l3re", "text": "Are you part of a residential or commercial brokerage ?", "replies": [], "depth": 3}, {"id": "il6l9or", "text": "I wouldnt say its normal but I make an offering loi and distribute it to unrepped or res agents who have an interest in my properties.  Its easier than getting junk submitted to you.  I dont think ive ever had another agent give me one and ive never had a broker with a major firm use mine, they all have their own.\n\nTheres some questions on what can be binding and most pro Lois have legal text explaiing which sections if any are binding.  Its pretty common to have binding exclusive periods for example.\n\nYou pay your broker to give you shit like this.  Push back on them to provide it.  If they wont or cant you are at the wrong firm", "replies": [{"id": "il7dny5", "text": "Two questions for you: Do you ever get the binding language successfully through the deal? I\u2019m a corporate office broker in AZ, and I\u2019ve never seen binding language, even with REIT held assets. If I saw it as any party, I\u2019d redline through it. I\u2019d guess for much larger midmarket transactions ($100mm+) that it\u2019d be a worthwhile clause. Let me know your thoughts there. \n\nSecondarily, I assume you\u2019re taking most of the deal points out of the template LOI you send to unrepped parties or resi agents? Specifically in the case of the latter, I typically use the agent\u2019s lack of experience as a leveraging point in negotiations, and I feel as though even a templated LOI may undermine that effort. But! If it helps get the deal done and it\u2019s not some essay in an email, you\u2019re probably on to something LOL.", "replies": [{"id": "il7rgo8", "text": "I'm not doing 100mm deals so I'll leave that to speculation.  I'm talking mostly leases and investment sales/dev in the 5 mil or &lt; range.\n\nFor 1 yes all the time.  Attornies may tweak it but as a concept ive found it fairly normal for parties to agree to things like confidentiality and exclusivity after the loi is signed.  This is the point when architecture and legal fees ramp up as well as dd which can sometimes start prior to the pc or lease.  When people start spending money they want to know parties are working in good faith to finalize the terms that were agreed to.\n\nMy template loi is very landlord friendly lol.  It is just base rent at asking, nnns detailed, description of the space, our desired term etc.  Agree with what you said, some people dont know what to ask for and I'm not trying to tell them.\n\nI do like to negotiate with documents and not \"what if we do x years at y?  Will the landlord take that?  Can you take a few walls out\".  That shits getting my template sent right back with \"why dont you modify this to fit what you had in mind\"", "replies": [{"id": "im5296c", "text": "Got it. There\u2019s clauses in our LOI\u2019s garnering confidentiality, but not exclusivity come contract. In fact, that helped one of my Landlords by replacing a small deal we got into contract with a large, institutional user who took up all the nearby contiguous space.  But, I can certainly see where it can help - especially if one party mentioned \u201cwell, we\u2019re considering other sites/tenants/etc.\u201d\n\nAs for the email with \u201cxyz\u201d deal term replies, I cannot tell you how many agents have tried to do that through an email. Some of them with large brokerages!!! Consistently amazes me. \n\nThank you for your replies.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "il4x6x8", "text": "Are you doing residential and commercial? Or are you a commercial agent in a residential office?", "replies": [], "depth": 1}, {"id": "il5gdom", "text": "Leasing or purchase? Asset type?\n\nhttps://www.adventuresincre.com/letter-of-intent-office-leasing/", "replies": [], "depth": 1}, {"id": "il5iowg", "text": "Let me know if you need a template. \n\nSend me a message.", "replies": [], "depth": 1}, {"id": "il5mgwg", "text": "Any 1 got 1 for land", "replies": [], "depth": 1}, {"id": "il9l3bw", "text": "Working in California here.  All the LOI's I have ever dealt with were 1. written as non-binding on either party, but merely as an easier to read (sometimes) document that highlights the bullet points. 2. Used for the purpose of signaling intent to write a fully executed contract (such as a CAR commercial purchase form) incorporating those bullet points.  Sometimes it is a separate .pdf, usually it is just bullet points in the body of an email.  We are sometimes dealing with 7 figure + deals here. There is no sensible reason to prefer a cocktail napkin or brief email over  a ten or twelve page contract that has been painstakingly developed over decades by Realtors and RE attorneys to thoroughly cover all imaginably foreseeable issues that may develop during the escrow.  It is not like we have to worry about the cost of the paper or the electronic kilobytes we are using.", "replies": [{"id": "ilm0q3c", "text": "TheBigMookMan, tactically, do you ever send out LOIs without the client's acknowledgement? Since this is a preliminary step and also non-binding, I wonder if it's the industry norm to send these out to filter the deals out?", "replies": [], "depth": 2}], "depth": 1}]