Document background
A Letter of Intent to Sell Land is commonly used in property transactions throughout England and Wales when parties wish to formally document their intentions before proceeding to binding contracts. This document typically precedes the exchange of contracts and completion, setting out key terms such as property details, price, and timeline. While primarily non-binding, it serves as a crucial stepping stone in the transaction process, allowing parties to clearly communicate their intentions and begin due diligence. The document helps structure negotiations and can include provisions for exclusivity periods and access for surveys.
