Document background
A Letter Of Intent For Property Sale is a crucial preliminary document used in Danish real estate transactions to establish the framework for negotiations between potential buyers and sellers. It is typically used when parties have reached initial agreement on key terms but need to formalize their intentions before proceeding with detailed due diligence and final contract negotiations. The document includes essential information such as property details, proposed purchase price, timeline, exclusivity period, and conditions for proceeding with the transaction. Under Danish law, while most provisions are non-binding, certain elements like confidentiality and exclusivity can be made binding. This document is particularly important in commercial property transactions but is also used in significant residential sales, helping to structure the transaction process and protect both parties' interests during the negotiation phase.
