Document background
The Letter of Intent for Commercial Property Purchase is a crucial preliminary step in Singapore's commercial property acquisition process. It is typically used when a prospective buyer has identified a suitable commercial property and wishes to formally express their interest before proceeding with detailed due diligence and negotiations. The document outlines key commercial terms, including proposed purchase price, timeline, and any specific conditions, while allowing both parties to proceed with more detailed negotiations. Under Singapore law, while most provisions are non-binding, certain aspects such as exclusivity periods may create legal obligations.
