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.
Millions of owners deal with property taxes every year. In the majority of cases, the tax bill arrives, is reasonable, and property owners simply pay it and move forward with their day. Yet, in some cases, property taxes are being overcharged. If you are a property owner and you have no idea how property taxes are calculated, it's a good idea to have a general understanding so that you will be aware of any significant mistakes made in the amount prior to submitting your next payment.