The Letter Of Intent To Sell Property Template is a crucial preliminary document in Australian property transactions, particularly in commercial real estate deals. It is typically used when parties have reached an initial understanding about a property sale but need to document their intentions before proceeding to formal contractual arrangements. This document includes essential elements such as property details, proposed purchase price, timeline for due diligence and completion, and any special conditions. While generally non-binding (except for specific provisions like confidentiality and exclusivity), it provides a clear framework for negotiations and demonstrates commitment from both parties. The template is designed to comply with Australian property law and relevant state-specific legislation, making it a valuable tool in both simple and complex property transactions.
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1. Date and Parties: Full legal names and addresses of both the intended seller and buyer
2. Property Details: Complete legal description and address of the property being considered for sale
3. Purchase Price: Proposed purchase price and any preliminary price-related terms
4. Transaction Timeline: Proposed timeline for due diligence, formal contract, and closing
5. Due Diligence: Overview of the intended due diligence process and access requirements
6. Deposit Terms: Proposed deposit amount, timing, and holding arrangements
7. Exclusivity Period: Period during which the seller agrees not to negotiate with other parties
8. Confidentiality: Terms regarding confidentiality of negotiations and shared information
9. Non-Binding Nature: Clear statement that the letter is non-binding except for specified clauses
10. Signature Block: Space for signatures, dates, and witness details if required
1. Special Conditions: Any unique requirements or conditions specific to the property or transaction
2. Financing Contingency: Include when buyer needs to secure financing before proceeding
3. Property Access: Specific terms for property inspection and access during due diligence
4. Existing Tenancies: Include when property has existing tenants and their rights need to be addressed
5. Development Potential: Include when property is being considered for development purposes
6. Environmental Matters: Include when environmental assessments or concerns need to be addressed
7. Foreign Investment Review Board Approval: Include when buyer is a foreign person or entity
8. Broker/Agent Details: Include when real estate agents or brokers are involved in the transaction
1. Property Description Schedule: Detailed legal description of the property, including lot numbers, title references, and boundaries
2. Preliminary Terms Sheet: Basic commercial terms agreed upon for the potential transaction
3. Due Diligence Checklist: List of documents and information to be provided during due diligence
4. Existing Encumbrances: List of any existing mortgages, easements, or other encumbrances on the property
5. Property Inclusions/Exclusions: Detailed list of items included or excluded from the proposed sale
Relevant legal definitions
Property
Seller
Buyer
Purchase Price
Deposit
Due Diligence Period
Exclusivity Period
Completion Date
Business Day
Confidential Information
Encumbrances
Title Documents
Permitted Use
Property Inclusions
Property Exclusions
Settlement
Binding Terms
Non-Binding Terms
Due Diligence Materials
Representatives
Contract of Sale
Valuation
Building and Pest Inspection
Existing Tenancies
Outgoings
Seller
Buyer
Purchase Price
Deposit
Due Diligence Period
Exclusivity Period
Completion Date
Business Day
Confidential Information
Encumbrances
Title Documents
Permitted Use
Property Inclusions
Property Exclusions
Settlement
Binding Terms
Non-Binding Terms
Due Diligence Materials
Representatives
Contract of Sale
Valuation
Building and Pest Inspection
Existing Tenancies
Outgoings
Clauses
Identification of Parties
Property Description
Purchase Price
Payment Terms
Deposit
Due Diligence
Exclusivity
Confidentiality
Non-Binding Nature
Timeline
Access Rights
Conditions Precedent
Property Inspection
Existing Tenancies
Title Matters
Representations and Warranties
Costs
Termination
Governing Law
Notices
Assignment
Entire Understanding
Binding Terms
Force Majeure
Property Description
Purchase Price
Payment Terms
Deposit
Due Diligence
Exclusivity
Confidentiality
Non-Binding Nature
Timeline
Access Rights
Conditions Precedent
Property Inspection
Existing Tenancies
Title Matters
Representations and Warranties
Costs
Termination
Governing Law
Notices
Assignment
Entire Understanding
Binding Terms
Force Majeure
Relevant Industries
Real Estate
Commercial Property
Residential Property
Property Development
Construction
Investment Banking
Legal Services
Property Management
Foreign Investment
Agricultural Land
Relevant Teams
Legal
Real Estate
Property Management
Corporate Development
Investment
Operations
Finance
Compliance
Business Development
Asset Management
Relevant Roles
Property Lawyer
Real Estate Agent
Property Developer
Investment Manager
Commercial Property Manager
Legal Counsel
Conveyancer
Property Acquisitions Manager
Real Estate Investment Director
Corporate Real Estate Manager
Property Portfolio Manager
Business Development Manager
Real Estate Broker
Asset Manager
Property Valuer
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