A Letter Of Intent To Sell Property Template is commonly used in the early stages of property transactions in England and Wales when a potential seller wishes to formally communicate their intention to sell to a prospective buyer. This document typically precedes the formal contract of sale and helps establish the preliminary framework for negotiations. While generally non-binding, it demonstrates serious intent and typically includes key information such as property details, proposed price, timeline, and any special conditions. It's particularly useful in complex transactions where parties need to document their preliminary agreement before proceeding with detailed due diligence and formal legal documentation.
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1. Date and Parties: Names and addresses of both seller and potential buyer
2. Property Description: Detailed description of the property including address and relevant title information
3. Proposed Purchase Price: The amount being offered for the property and any payment terms
4. Non-Binding Nature: Clear statement that this is a non-binding expression of intent
5. Proposed Timeline: Expected timeframe for completion of the transaction and key milestones
1. Exclusivity Period: Optional clause specifying a period during which seller agrees not to negotiate with other parties
2. Due Diligence Period: Optional clause specifying timeframe for buyer to conduct property investigations
3. Confidentiality Provisions: Optional terms regarding confidentiality of negotiations and transaction details
4. Deposit Terms: Optional clause detailing any initial deposit to be paid and related conditions
1. Property Plans: Floor plans or land registry plans of the property
2. Title Information: Copy of title register or other proof of ownership
3. Preliminary Terms: Draft heads of terms for the final sale agreement
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