Document background
The Letter of Offer to Purchase Land is a preliminary document used in property transactions throughout England and Wales. It represents the first formal step in the property acquisition process, allowing prospective buyers to communicate their serious intention to purchase and outline their proposed terms. While typically non-binding, this document helps establish the framework for negotiations and subsequent legal documentation. It includes crucial details such as property identification, proposed purchase price, timeline, and any specific conditions or contingencies. The letter serves as a foundation for solicitors to prepare the formal contract of sale and begin the conveyancing process.
