The Letter Of Intent To Sell (Real Estate) is a crucial preliminary document in Indian real estate transactions, typically used before entering into a formal sale agreement. It serves as a roadmap for the transaction, documenting both parties' intentions and key commercial terms while allowing flexibility for negotiations. This document is particularly valuable in complex real estate transactions where parties need to outline their understanding before conducting detailed due diligence or securing financing. While primarily non-binding, it can include binding provisions for certain aspects like confidentiality or exclusivity. The document must align with Indian legal requirements, particularly the Transfer of Property Act, 1882, and related real estate laws, while providing sufficient detail to guide the transaction towards completion.
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1. Date and Place: The date of issuing the LOI and the place where it is being executed
2. Parties' Details: Complete details of both the potential seller and buyer, including names, addresses, and contact information
3. Subject Property Details: Clear identification and description of the property intended to be sold
4. Purchase Price: Proposed purchase price and any initial price negotiations
5. Payment Terms: Outline of how and when payments would be made
6. Due Diligence Period: Timeframe allowed for the buyer to conduct property investigations
7. Conditions Precedent: Key conditions that need to be satisfied before proceeding to final sale
8. Timeline: Expected timeline for completing the transaction
9. Non-Binding Nature: Clear statement about the non-binding nature of the LOI, except for specific binding provisions
10. Signature Block: Space for both parties to sign and date the document
1. Earnest Money: Include when parties agree to a good faith deposit
2. Exclusivity Period: Include when seller agrees not to negotiate with other parties for a specific period
3. Confidentiality: Include when sensitive information will be shared during due diligence
4. Broker Information: Include when real estate brokers are involved in the transaction
5. Governing Law: Include when parties want to specify jurisdiction explicitly
6. Costs and Expenses: Include when parties want to specify who bears various transaction costs
1. Property Description Schedule: Detailed description of the property including boundaries, measurements, and registration details
2. Title Documents List: List of title documents that will be made available for due diligence
3. Payment Schedule: If applicable, detailed breakdown of payment structure and timelines
4. Due Diligence Checklist: List of documents and information to be provided during due diligence
Relevant legal definitions
Agreement
Property
Seller
Buyer
Purchase Price
Due Diligence Period
Completion Date
Earnest Money
Encumbrances
Title Documents
Conditions Precedent
Business Day
Confidential Information
Permitted Disclosures
Effective Date
Exclusivity Period
Governing Law
Material Adverse Change
Property Documents
Transaction
Property
Seller
Buyer
Purchase Price
Due Diligence Period
Completion Date
Earnest Money
Encumbrances
Title Documents
Conditions Precedent
Business Day
Confidential Information
Permitted Disclosures
Effective Date
Exclusivity Period
Governing Law
Material Adverse Change
Property Documents
Transaction
Clauses
Parties and Property Identification
Purchase Price
Payment Terms
Due Diligence
Conditions Precedent
Timeline
Non-Binding Nature
Confidentiality
Exclusivity
Good Faith
Costs and Expenses
Governing Law
Notices
Term and Termination
Property Access
Representations and Warranties
Title and Encumbrances
Broker/Agent Involvement
Assignment
Amendments
Purchase Price
Payment Terms
Due Diligence
Conditions Precedent
Timeline
Non-Binding Nature
Confidentiality
Exclusivity
Good Faith
Costs and Expenses
Governing Law
Notices
Term and Termination
Property Access
Representations and Warranties
Title and Encumbrances
Broker/Agent Involvement
Assignment
Amendments
Relevant Industries
Real Estate
Construction
Property Development
Real Estate Investment
Commercial Property
Residential Property
Industrial Property
Hospitality
Retail
Agricultural Real Estate
Relevant Teams
Legal
Real Estate
Property Management
Business Development
Investment
Finance
Compliance
Operations
Acquisitions
Asset Management
Relevant Roles
Real Estate Manager
Property Developer
Legal Counsel
Property Acquisition Manager
Real Estate Broker
Business Development Manager
Investment Manager
Asset Manager
Commercial Director
Chief Financial Officer
Real Estate Attorney
Property Portfolio Manager
Land Acquisition Specialist
Real Estate Investment Analyst
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