Almost every purchase and sale agreement will require two separate negotiations: a letter of intent and a detailed purchase and sale agreement. The letter of intent can be made non-binding, but even if this is the case, once it is in writing, it is a key player in the continuing negotiations and formal purchase agreement documentation. A mistake or oversight made during the initial "negotiation" or letter of intent stage can lead to problems later in the process.
As contractors may expect referral fees in connection to construction projects, it benefits project coordinators and property owners to be aware of industry standards. Sales commissions and referral fees and working standard percentages...is there an across the board standard? Paying appropriate/fair commissions and referrals may serve as an attraction for potential business, while inappropriate or substandard rates could hurt business.