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It really could not get more simple than this, but all too many people insist on confusing themselves on this point by listening to bad advice peddled by people who supposedly have closed this deal or that deal or 50 deals on their word.

The point is that the often_heard notion and claims by some sellers or their overzealous agents and brokers that the use of the LOI to initiate a purchasing proposal by a buyer "is how it is usually done and this is how it should be," may be applicable and prudent only in the minds, the imagination, and hopes or dreams of those sellers, especially the more marginal ones and their brokers and agents who operate on the fringes largely on the Internet. It is NOT a view that is shared by the broad spectrum of credible buyers, more especially when the "sellers" involved are largely unknown and obscure operators.

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