Financially Simple

In episode 28 of Financially Simple, Justin talks about the Letter of Intent - the first step of many along the road to selling your Business. A Letter of Intent, or LOI, is like a declaration of war - it signals the buyer's desire to purchase your Business and your willingness to sell, without committing to anything just yet. Justin examines the format of an LOI, and also some of the terms and conditions that might be included in it that you should be aware of. Don't forget to subscribe, and let us know how we are doing by leaving a review. Thanks for listening!  TRANSCRIPT: Don't Let the Thrill of a Letter of Intent to Buy Your Business Cost You – Post #28   TIME INDEX: 00:44 - The Letter of Intent, the First Step in a Formal Business Sale 02:45 - What Is a Letter of Intent? 04:49 - What Is Included in the LOI? 08:46 - An LOI Is Not Really a Binding Agreement 09:01 - Why Have an LOI? 10:42 - Conditions to Look Out For 15:08 - State What Is Not for Sale 17:26 - Other Ts&Cs to Be Aware Of 20:27 - Conclusi