Document background
A Letter Of Intent To Sell House is commonly used in Qatar's real estate market as a preliminary step before entering into a formal sale and purchase agreement. This document is typically prepared when there is serious interest from a potential buyer and both parties wish to document their initial understanding and commitment to negotiate. It outlines key terms such as the proposed purchase price, payment structure, due diligence period, and closing timeline, while clearly stating its non-binding nature (except for specific provisions like confidentiality). The document must align with Qatar's property laws and regulations, particularly Law No. 16 of 2004 (Qatar Civil Code) and Law No. 22 of 2004 (Real Estate Property Law), and should consider any restrictions on foreign ownership if applicable. It serves as a crucial tool in property transactions by providing a clear framework for negotiations while protecting both parties' interests during the preliminary stages of the deal.
