Document background
A Letter of Offer to Sell Property is a crucial initial document in Australian property transactions, used when a property owner wishes to formally communicate their intention to sell a specific property to a potential buyer. This document serves as a preliminary step before entering into a binding contract of sale and is commonly used in both residential and commercial property transactions across all Australian states and territories. It typically includes detailed property information, proposed sale terms, pricing, settlement periods, and any special conditions. While not legally binding itself, it forms the foundation for negotiations and the subsequent formal contract. The document must be drafted in compliance with relevant state/territory property legislation and should clearly outline all material aspects of the proposed transaction to ensure transparency and avoid potential disputes.
