Document background
A Letter of Interest Real Estate Template is commonly used in England and Wales as an initial step in property transactions. This document bridges the gap between informal discussions and formal contracts, allowing parties to outline their intentions and basic terms before committing to more detailed agreements. The LOI typically includes proposed purchase price, timeline, due diligence requirements, and any specific conditions. While primarily non-binding, it demonstrates serious intent and can include binding elements such as confidentiality or exclusivity provisions. This document is particularly useful in complex commercial transactions where detailed negotiations may follow.
