Posted On: 09/12/2016 10:27:12 AM
Post# of 75355
Re: vegasandre #25172
You asked about if "it doesn't go through."
I don't want to assume your level of experience with LOI/options so if you already know this, please accept my apologies.
These are used to explore an interest in a business project etc. It's not a binding sale. It sets the ground work for all parties involved to work from to see if a purchase offer can be formulated by the writer.
It means Li is interested, but wants to know more details to see if she wants to make an offer. The DD component is key.
They are often somewhat vague to give the writer of it more latitude during the exploratory process. It does bind them for 30 days, so RMHB cannot do anything that goes against the document during that time.
Thirty days is on the shorter side of an option in this arena, which is actually a good thing from RMHB's side. But there is not much DD to do in this case, so it makes sense.
That Li put an offer amount at this stage is more promising but again, it's not binding.
So if the LOI doesn't get exercised, RMHB keeps doing what it's been doing.
I don't want to assume your level of experience with LOI/options so if you already know this, please accept my apologies.
These are used to explore an interest in a business project etc. It's not a binding sale. It sets the ground work for all parties involved to work from to see if a purchase offer can be formulated by the writer.
It means Li is interested, but wants to know more details to see if she wants to make an offer. The DD component is key.
They are often somewhat vague to give the writer of it more latitude during the exploratory process. It does bind them for 30 days, so RMHB cannot do anything that goes against the document during that time.
Thirty days is on the shorter side of an option in this arena, which is actually a good thing from RMHB's side. But there is not much DD to do in this case, so it makes sense.
That Li put an offer amount at this stage is more promising but again, it's not binding.
So if the LOI doesn't get exercised, RMHB keeps doing what it's been doing.
(1)
(0)
"This is a USIA certified organic fluff free post."
