The Real Estate Simple Letter Of Intent To Sell Property is a crucial preliminary step in Singapore property transactions. It is typically used when a potential buyer wishes to formally express interest in purchasing a property before proceeding with a binding contract. The document includes essential details such as property description, proposed purchase price, timeline, and any specific conditions. Under Singapore law, this document serves as a framework for negotiations while providing both parties with clear documentation of initial terms. It's particularly useful in complex property transactions where parties need to establish basic agreement before engaging in detailed legal documentation.
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Key Requirements PROMPT example:
Real Estate Simple Letter Of Intent To Sell Property
"I need a Real Estate Simple Letter Of Intent To Sell Property for my three-bedroom condominium in Singapore's East Coast area, with a proposed sale price of SGD 2.5 million and completion targeted for March 2025, including an exclusivity period of 14 days."
1. Sender and Recipient Details: Full names and addresses of both parties, including legal entity status if applicable
2. Property Description: Complete legal description of the property including address, lot number, and land title details
3. Purchase Price: Proposed purchase price and any specific payment terms or conditions
4. Timeline: Proposed timeline for transaction completion including key milestones
5. Due Diligence Period: Specified timeframe for conducting property investigations and reviews
6. Expression of Non-Binding Intent: Clear statement that this is a non-binding Letter of Intent
1. Deposit Terms: Details of any initial deposit, payment method, and refund conditions
2. Exclusivity Period: Terms of exclusive negotiation rights and duration
3. Conditions Precedent: Specific conditions that must be met before proceeding with formal agreement
4. Property Condition Statement: Current condition of the property and any known defects
1. Property Information Sheet: Detailed information about the property including floor plan and specifications
2. Title Search Results: Recent title search showing ownership and encumbrances
3. Property Tax Statement: Current property tax assessment and payment status
4. Property Photographs: Recent photographs of the property's exterior and interior
Authors
Relevant legal definitions
Property
Seller
Purchaser
Purchase Price
Completion Date
Deposit
Due Diligence Period
Exclusivity Period
Business Day
Option Period
Title Documents
Property Tax
Stamp Duty
Encumbrances
Estate in Fee Simple
Strata Title
Vacant Possession
Sale and Purchase Agreement
Conditions Precedent
Effective Date
Seller
Purchaser
Purchase Price
Completion Date
Deposit
Due Diligence Period
Exclusivity Period
Business Day
Option Period
Title Documents
Property Tax
Stamp Duty
Encumbrances
Estate in Fee Simple
Strata Title
Vacant Possession
Sale and Purchase Agreement
Conditions Precedent
Effective Date
Clauses
Relevant Industries
Relevant Teams
Relevant Roles
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