Document background
The Real Estate Simple Letter Of Intent To Sell Property is a crucial preliminary document in Philippine real estate transactions, used when a property owner wishes to formally communicate their intention to sell a property to a specific buyer. This document serves as a stepping stone between initial negotiations and the final Sale and Purchase Agreement, outlining key terms while maintaining flexibility for further negotiation. It is particularly relevant in the Philippine context where property transactions often involve multiple stages of documentation and due diligence. The document typically includes essential information such as property details, proposed price, payment terms, and conditions precedent, while adhering to local legal requirements and customs. While generally non-binding, it demonstrates serious intent and can include certain binding provisions such as confidentiality or exclusivity clauses.
