Document background
An Intent to Sell Agreement serves as a crucial preliminary step in Australian property transactions, bridging the gap between initial negotiations and the formal contract of sale. This document is particularly useful in complex property transactions where parties need to formalize their intentions and establish a framework for due diligence and detailed negotiations before committing to a full sale contract. The agreement typically includes property details, proposed purchase price, due diligence requirements, exclusivity periods, and conditions precedent to the formal sale. While not committing parties to complete the sale, it creates binding obligations regarding the negotiation process and confidentiality. Used across various Australian jurisdictions, the Intent to Sell Agreement must align with state-specific property laws, Australian consumer protection legislation, and general contract law principles. It's particularly valuable in commercial property transactions or situations where detailed due diligence is required before proceeding to a formal sale.
