Letter of Offer Contract - Escape Clauses

[Ross McKenzie]

Good Day Ladies & Gentleman. Any suggestions please on drafting reasonable (acceptable to Vendor) Letter of Offer / Intent to Purchase Contract "ESCAPE" clauses? I've scoured Forum & REI Educational Materials and come up with nothing. I find it odd that of the 3 reputable Real Estate Law Firms I talked to, none of them are willing to draft a Letter of Offer for me. I can't figure out why a buyer is left to do this himself or to trust that the Realtor has his best interests in mind. Many thanks.

[Roy N.]

@Ross McKenzie

Unless you are purchasing a commercial property, the deal is unlikely to be complex enough to warrant a Letter of Intent (LoI).  If you are purchasing a residential property (1-4 units) or even a small commercial multi-unit (say up to 5-8 or 10 units), I would advise you use the Agreement of Purchase and Sale from the BC Real Estate Association (with your own schedule if additional terms are required) and not bother with an LoI as your Vendor is more apt to be less sophisticated and become spooked by the formality of an LoI and a deal specific contract.