A Letter of Intent Buying Property is commonly used in Singapore's real estate market as an initial step in property acquisition. It serves as a formal expression of interest before proceeding with the Option to Purchase and final sale agreement. This document typically includes key terms such as proposed purchase price, payment structure, timeline for due diligence, and any specific conditions required by either party. While not legally binding for the main transaction, it helps establish clear communication between parties and can include binding provisions for certain aspects like confidentiality. It's particularly useful in complex property transactions or when dealing with commercial properties in Singapore.
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1. Property Details: Full address and description of the property including lot number, land area, and property type
2. Intended Purchase Price: Statement of the proposed purchase price and preliminary payment terms
3. Buyer Details: Full identification of the prospective buyer including citizenship status for regulatory compliance
4. Seller Details: Full identification of the current property owner/seller
5. Timeline and Key Dates: Proposed timeline for due diligence, option issuance, and completion of the purchase
1. Exclusivity Period: Period during which the seller agrees not to negotiate with other potential buyers
2. Financing Conditions: Conditions related to obtaining necessary financing and loans
3. Property Condition Requirements: Specific conditions regarding the state of the property at handover
4. Due Diligence Requirements: Specific requirements for property inspection, title searches, and other investigations
5. Regulatory Compliance: Specific mentions of compliance with Singapore property purchase restrictions and requirements
1. Property Floor Plan: Detailed layout and floor plan of the property
2. Title Search Results: Preliminary title search information and encumbrance details
3. List of Fixtures and Fittings: Inventory of items included or excluded from the sale
4. Property Photographs: Recent photographs of the property's current condition
5. Proposed Payment Schedule: Detailed breakdown of payment milestones and amounts
Relevant legal definitions
Property
Purchase Price
Deposit
Completion Date
Due Diligence Period
Option Period
Exclusivity Period
Business Day
Encumbrances
Title Documents
Permitted Use
Completion
Valuation
Stamp Duty
ABSD
Fixtures and Fittings
Property Tax
Certificate of Title
Strata Title
Option to Purchase
Parties
Working Day
Sale and Purchase Agreement
Binding Effect
Force Majeure
Material Adverse Change
Confidential Information
Legal Representatives
Relevant Authority
Singapore Dollar
Purchase Price
Deposit
Completion Date
Due Diligence Period
Option Period
Exclusivity Period
Business Day
Encumbrances
Title Documents
Permitted Use
Completion
Valuation
Stamp Duty
ABSD
Fixtures and Fittings
Property Tax
Certificate of Title
Strata Title
Option to Purchase
Parties
Working Day
Sale and Purchase Agreement
Binding Effect
Force Majeure
Material Adverse Change
Confidential Information
Legal Representatives
Relevant Authority
Singapore Dollar
Clauses
Property Description
Purchase Price
Payment Terms
Due Diligence
Exclusivity
Confidentiality
Conditions Precedent
Representations and Warranties
Timeline and Deadlines
Property Access
Title and Ownership
Deposit Terms
Property Condition
Encumbrances
Seller's Obligations
Buyer's Obligations
Option Terms
Financing Conditions
Regulatory Compliance
Stamp Duty
Property Tax
Termination
Force Majeure
Governing Law
Dispute Resolution
Notices
Assignment
Amendment
Entire Agreement
Severability
Purchase Price
Payment Terms
Due Diligence
Exclusivity
Confidentiality
Conditions Precedent
Representations and Warranties
Timeline and Deadlines
Property Access
Title and Ownership
Deposit Terms
Property Condition
Encumbrances
Seller's Obligations
Buyer's Obligations
Option Terms
Financing Conditions
Regulatory Compliance
Stamp Duty
Property Tax
Termination
Force Majeure
Governing Law
Dispute Resolution
Notices
Assignment
Amendment
Entire Agreement
Severability
Relevant Industries
Relevant Teams
Relevant Roles
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