what should you expect to see in a letter of intent, and how can you ensure it’s written in your favor? during this time, you have to stop marketing your business to other possible buyers, so they have plenty of time to review it and make a decision on whether to purchase. while it’s not a legally-binding commitment, if you make promises to your interested buyer about the price or what’s included in the sale, it’ll be hard to change those later. don’t wait until you get to the sale contract to get a lawyer’s input.