Document background
The Letter of Intent to Buy Property is a crucial preliminary document in Danish real estate transactions, serving as a stepping stone toward the final purchase agreement. 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 outlines essential elements such as property identification, proposed price, timeline, and any exclusivity periods, while reflecting specific requirements of Danish property law. While generally non-binding regarding the main transaction, it may contain certain binding provisions such as confidentiality and exclusivity obligations. This document is particularly important in Danish property transactions as it helps structure the pre-contractual phase and sets clear expectations for all parties involved.
