This letter sets out the principal terms on which Olive & Thread proposes to purchase the commercial property at 1209 Brushy Creek Road, and is intended to guide preparation of a formal purchase agreement. After two years operating our café three doors east, we have decided to buy rather than continue leasing, and your building is the one we want.
We are prepared to offer a purchase price of $685,000, supported by a non-refundable earnest-money deposit of $20,000 placed in escrow within three business days of a signed agreement. Olive & Thread has been profitable since its eighth month, carries no outstanding debt, and has secured a pre-approval letter from Hill Country Bank for acquisition financing up to $550,000, which I am glad to provide on request.
The offer is contingent on a 45-day due-diligence period for inspection, a clean title commitment, and confirmation that the property is delivered free of existing tenancies. We would aim to close on or before September 30, 2026, in time to renovate before the holiday season.
This letter is a statement of intent and is not binding except as to the parties' agreement to negotiate in good faith and to keep these terms confidential. To hold the opportunity while we proceed, we ask for a short exclusivity window through July 6, 2026, during which the property would not be marketed to others.
If these terms are agreeable, please countersign below and return one copy, and I will have our attorney circulate a draft purchase agreement within five business days. I can be reached directly at (512) 555-0173 or [email protected], and would welcome a walk-through at your convenience.