Foreign investment in U.S. real estate is growing rapidly, not just on the coasts but here, in the Midwest, as well. Indeed, according to an article in the Milwaukee Journal Sentinel, many recent, high-profile, Milwaukee real estate projects, including the Global Water Center, the downtown Marriott Hotel and the redevelopment of the Pabst Brewing complex have been funded, at least in part, by international investors. Continue reading
6 Tips on Drafting Letters of Intent
Are you planning to purchase or lease commercial real estate? Negotiating a letter of intent (also known as an LOI) will be one of the first and most important steps you take on the way to owning or leasing your new property. To help you through that process, here are six quick tips on drafting real estate letters of intent:
1. Make sure your LOI is non-binding.
If you’re not careful, that letter of intent you wrote in a hurry at midnight could become your purchase and sale agreement. To make sure that does not happen, always add language to your LOI, similar to the following, that makes it clear that your letter of intent is non-binding. Continue reading
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