Document background
The Letter of Offer to Sell Property is a crucial initial document in Philippine property transactions, typically used when a property owner wishes to formally communicate their intention to sell their property to potential buyers. This document serves as the first step in the property sale process, outlining the fundamental terms of the proposed sale including property details, price, and conditions. Under Philippine law, while not legally binding like a contract of sale, this document establishes the seller's serious intent and can form the basis for subsequent negotiations. The letter must comply with Philippine Civil Code requirements and local property regulations, making it an essential tool in both commercial and residential property transactions. The document is particularly important in formal business settings where clear documentation of intentions and terms is necessary for proper due diligence and decision-making processes.
