Letter of Intent to Sell Property Sample with Examples

A 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 mentioned clearly.
• The names of both parties, contact information, and signatures are provided.
• Very well composed in a professional way, which is legally appropriate.
  Otherwise, non-binding.
• Easy to edit, print, and create to suit any type of property.

Benefits:

• Agrees with the buyer and the seller.
• Rapidly hastens the negotiation and agreement.
• Eschews confrontations by making significant arrangements.
• Makes professional transacting of property easier.
• Save time using ready-made editable templates.