Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

How to Deal with a LOI

10 Jul 2026 · 1 min

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1:19

In this conversational excerpt, a caller (Speaker A) asks Christian Osgood for guidance on drafting a Letter of Intent (LOI) for a property purchase. Osgood explains that an LOI is generally non‑binding, serving as an understanding between parties, so mistakes carry little risk. He outlines the essential elements of an LOI—buyer’s name and address, purchase price, key terms, any special clauses, due‑diligence items, and timelines. While you can draft it yourself, Osgood recommends consulting a lawyer for a purchase‑and‑sale agreement. He also mentions his own AI tool, Osgood AI, which can generate a fully formatted, usable LOI based on those inputs, emphasizing that AI‑generated LOIs are safe because they are not legally binding.

Chapters

And for the letter of intent, I'm not completely— I've been looking at a lot of deals recently. Yeah. And I've gotten okay with the numbers. I think they're getting solid. I can spot what's a waste of time and what I should probably look into more. And I call— I've been calling a lot of brokers. Yeah. But I haven't submitted any letters. I'm not completely confident on how to make a letter. And I looked back at your video and it said call a— what's it called? A lawyer? Do you know what kind of—
For a purchase and sale, you want to call a lawyer. An LOI is a non-binding letter. Uh, so even if you completely screw it up, you did, you're not held to it. It is an understanding between parties. So, uh, you can draft it yourself. Um, I actually have, uh, a section in the AI section for like how I draft them with the, uh, Osgood AI. But it will literally, what you need is the price, any special clauses, the terms, and you'll want to put like the, it will, it'll actually help you fill it out. If you'll, hey, help me submit an LOI for this, but you put your name, address, who's buying it, the purchase price, the terms. Any special clauses, what would be needed in due diligence, and then your key timelines. Um, but it will literally, it will write it for you in a format that is completely usable. Um, that can be AI generated because it is completely not binding. You have no actual financial risk signing an LOI.