Letter of Intent

Hi People,

I know this might be simple for some but for a first timer I want to make sure that we do everything write. We are in the process of negotiating to buy a property – a deceased estate to be exact. The vendor has asked us to write a letter of intent. What should be included in the typical “letter of intent”… anything to watch out for ???

I am assuming that they need this in order to take the details to all the possible beneficiaries of the sale of the property – would this be right??

Thanks again for your answers in advance !!!!

Ryan