Letter of Intent to Sell Property Sample with Examples

Letter of Intent to sell property is a legal document that gives a description of the intent to sell by a seller to a prospective buyer of a given property. It provides an overview of major highlights like property description, price offered, payment terms, and time before writing the final sale contract. The letter assists both parties in knowing what to expect and getting on with the transaction.

The letter can also be very handy when the property transaction is still undergoing initial stages, where there is transparency between the buyer and seller. It is pre-deal knowledge that prepares the stage for further negotiation or a binding contract.

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Sample Letter of Intent to Sell Property Template with Examples

Applications of Letter of Intent to Sell Property:

• Helps is an official document that denotes the intentions of the seller of a property.
• Commonly used to draw preliminary conditions before the signing of a final agreement.
• Gives a clear understanding of property specifications, sale price, and condition.
• Shows commitment and seriousness to potential buyers.
• Suitable for real estate agents, property owners, and developers.
• Help circumvent the risk of misinterpretation by writing down terms accepted upon.
• They could be referred to as collateral evidence in negotiations on property.
• A reference document for making up the final sale contract.

Features of the Letter of Intent to Sell Property:

• The description, price, and terms of sale of the property are stated clearly.
• The names of both parties, contact details, and signatures are included.
• Extremely well written professionally, in a legally appropriate manner.
• Unless stated otherwise, non-binding.
• Simple to edit, print, and tailor to any type of property.

Benefits:

• Creates a consensus between the buyer and the seller.
• Accelerates the speed of negotiation and agreement.
• Avoids conflicts by setting important details.
• Facilitates professionalism when transacting property.
• Time saving with pre-made editable templates.