The Letter of Intent to Sell Property is a crucial preliminary document in Malaysian property transactions, used when a potential buyer wishes to formally express their interest in purchasing a property while maintaining the flexibility to negotiate terms. This document, while not legally binding for the final sale, serves as a framework for negotiations and demonstrates serious intent. It typically precedes the formal Sale and Purchase Agreement and includes essential details such as property identification, proposed purchase price, payment terms, and any conditions precedent. Under Malaysian jurisdiction, this document should be drafted with consideration of the Contracts Act 1950 and National Land Code 1965, though it primarily serves as a commercial rather than legal instrument. The Letter of Intent is particularly valuable in complex property transactions where parties need to establish clear communication and understanding before proceeding with detailed negotiations and due diligence.

1. Date and Parties: Full names, addresses, and identification details of both the intended seller and buyer

2. Property Details: Complete description of the property including address, title details, land area, and property type

3. Purchase Price: Proposed purchase price and any price-related conditions or assumptions

4. Payment Terms: Proposed payment structure including deposits and payment schedule

5. Due Diligence Period: Timeframe for conducting property investigations and title searches

6. Intended Timeline: Proposed timeline for moving forward with the transaction

7. Expression of Intent: Clear statement of intention to purchase the property subject to conditions

8. Non-Binding Nature: Statement clarifying that this is not a binding sale and purchase agreement