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The Letter of Intent to Buy Property is a crucial preliminary document in Australian property transactions, serving as a formal expression of interest from a potential buyer to a property owner. While not legally binding for the main purchase transaction, it can contain certain binding elements such as confidentiality or exclusivity provisions. This document is typically used when a serious buyer wants to formally communicate their interest and proposed terms before proceeding with full due diligence and formal contract negotiations. It includes key information such as the property details, proposed purchase price, timeline, and any specific conditions or requirements. The letter helps establish clear communication between parties and can be particularly useful in complex property transactions or when dealing with commercial properties. In the Australian legal context, this document must be carefully drafted to avoid unintended legal obligations while maintaining its effectiveness as a serious indication of intent to purchase.

1. Sender and Recipient Details: Full legal names and addresses of both the potential buyer and the property owner

2. Date: Current date of the letter

3. Subject Line: Clear indication that this is a Letter of Intent to Purchase Property

4. Property Identification: Detailed description of the property including address and legal description

5. Expression of Intent: Clear statement of intention to purchase the property

6. Proposed Purchase Price: The amount offered for the property

7. Key Terms: Basic terms of the proposed purchase including payment method and timeline

8. Timeline: Proposed timeline for the transaction including inspection period and closing date

9. Non-Binding Nature: Statement clarifying that this is not a binding purchase agreement

10. Signature Block: Space for signature, name, and date