Document background
A Letter of Intent to Sell House is commonly used in South African property transactions as an initial step before the formal Offer to Purchase or Sale Agreement. This document is particularly useful when parties wish to document their serious intention to proceed with a property transaction while still finalizing details or conducting due diligence. While not legally binding for the actual property transfer under South African law, it helps establish clear expectations and demonstrates commitment to the process. The document typically precedes more formal legal documentation and is often used when there are complex terms to negotiate or when parties need to secure financing or fulfill other conditions. It should align with requirements of the Alienation of Land Act and other relevant South African property legislation, though the actual property transfer will require subsequent formal documentation.
