Document background
A Letter of Intent to Buy Land is typically used in Swiss real estate transactions as an initial step before entering into a binding purchase agreement. It is particularly useful when dealing with complex property transactions or when buyers need to conduct detailed due diligence before committing to the purchase. The document outlines the proposed terms of the transaction, including purchase price, timeline, and any conditions precedent, while maintaining its generally non-binding nature. Under Swiss law, this document helps structure negotiations and set expectations, though certain provisions like confidentiality may be binding. It's especially important in cases involving foreign buyers who must comply with Lex Koller restrictions, or when dealing with properties that may have special zoning or usage requirements. The Letter of Intent serves as a roadmap for the transaction and demonstrates serious interest while protecting both parties during the preliminary stages of the deal.
