In order to purchase a particular property, you will require many important documents such as sale deed, sale agreement, N.O.C and many more. But most importantly, before buying a property, you are required to write a special formal letter to the owner of such property. This formal letter is called ‘letter of intent for purchase of property’. Although there are many different types of letters of intent but here, we will specifically talk about the letter of intent written for the purchase of a property. However, instead of writing yourself, letter of intent for purchase of property templates can also be considered to use for this purpose.
Whether the property is a piece of land or a real estate property, you will always have to write the letter of intent for its purchase first. After that, all the other procedures are performed and the necessary details are provided. As mentioned earlier, this letter of intent should be written in proper formal style as it is a part of an official business transaction. Following are some of the best formal letter of intent for purchase of property templates that you can download for free.
Letter of Intent for Purchase of Property Templates:
Illustrative Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 30 KB
Typical Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 911 KB
Commercial Property Letter of Intent Template
Details:
File Format: PDF
File Size: 42 KB
Detailed Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 29 KB
Real Estate Property Letter of Intent Template
Details:
File Format: PDF
File Size: 73 KB
Blank Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 246 KB
Explanatory Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 79 KB
Comprehensive Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 14 KB
Non-Binding Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 27 KB
Elements of a Formal Letter of Intent for Purchase of Property
While writing a letter of intent for purchase of property, you should write it with professionalism and due diligence. Following are some important elements of a professional letter of intent for purchase of property that you should include in your letter:
- Owner of Property
Mention the proper name and address of the person who is the owner of the property. Also mention whether the owner is an individual or a company.
- Purchaser
Mention your name and address in full and the name and address of your business as well, in case you want the property for it.
- Date
Include the date of writing of the letter.
- Location of Property
Write the complete address of the property in which you are interested so as to make it clear to the owner that which property you are talking about.
- Price of Property
Here, you should mention the proposed price of the property. Note that the proposed price should be proper and it should be in accordance with the current market norms.
- Terms of Payment
In this section, declare to the seller that a certain amount e.g, 1/4th of the total amount of property will be given to the seller upon entering into a binding purchase agreement. The rest of the amount will be given once the buyer will have the official possession of the property.
- Inspection
In this section, you should clearly discuss that after entering into a proper purchase agreement of the property, the purchaser will have the option of inspecting the said property, by a person of his own choice. Note that this option will be available to purchaser only after entering into a proper legal purchase agreement of the property, and not at the time of writing the letter.
- Standard Provisions
In this section, mention that the purchase agreement will contain the standard provisions required by law.
- Additional Provisions
You can also discuss some additional provisions that will be the part of the ultimate purchase agreement, but with the consent of the seller.
- Validity
In this section, mention the time period for which the offer will be valid. For example, if the buyer or seller do not enter into a binding agreement for the purchase of property, within 3 days, the seller will have the option to carry out negotiations for the sale of the same property with some other party.
- Non-Binding
Include the declaration that this letter of intent is just an expression of interest in a particular property. It shall not be treated as a contract binding the parties.
More Letter of Intent for Purchase of Property Template
Official Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 221 KB
Formal Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 64 KB
Basic Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 86 KB
Special Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 82 KB
Corporate Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 32 KB
Sample Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 121 KB
Traditional Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 71 KB
Professional Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 199 KB
Standard Letter of Intent for Purchase of Property Template
Details:
File Format: PDF
File Size: 2 MB
