Document background
A Letter of Intent to Sell House is commonly used in the United Arab Emirates as an initial step in property transactions, bridging the gap between verbal negotiations and a final sale agreement. This document is particularly important in the UAE real estate market where transactions often involve international parties and significant investments. It typically precedes the formal Sale and Purchase Agreement and allows parties to outline key terms while maintaining flexibility. The document should comply with UAE federal real estate laws and relevant emirate-specific regulations, particularly in major real estate markets like Dubai and Abu Dhabi. While generally non-binding, it serves as a framework for future negotiations and demonstrates serious intent to proceed with the transaction. The letter typically includes property details, proposed purchase price, payment terms, timeline, and any special conditions, while considering local market practices and legal requirements.
