BULLDOG
Diamond Member
- Jun 3, 2014
- 95,497
- 31,614
That's a special situation. Generally the developer purchases the land.I understand there is no requirement for any such document when you build a hotel. If the bank approves your loan, you have purchased the land and your building permit is approved, then you can proceed.There's no such thing as a "letter of intent" to build a hotel in this country, so I don't even know what the hell you're talking about, and you sure as hell don't know either.You don't sign a letter of intent without a feasibility study that last years with such a big undertaking. Doesn't matter if it panned out. That wasn't the question.
Of course there is. Do you understand what a letter of intent is?
Not really. If you are building a hotel in partnership with the owner of the land, and the development is looking for investors the first thing to happen would be a letter of intent that would become part of the formal prospectus. Trump doesn't own any land in Russia, he wasn't looking to buy land in Russia.
Generally you have no idea what you are talking about. This is no exception.