Document background
A Letter of Interest for Land Purchase is commonly used in the early stages of property transactions in England and Wales. It serves as a formal way to initiate negotiations and demonstrates serious intent without creating binding obligations. The document typically includes details about the potential buyer, the property of interest, proposed purchase price, timeline for completion, and any specific conditions or requirements. While not legally binding, it helps establish the framework for future negotiations and can be particularly useful in competitive situations or when dealing with complex land acquisitions. This document is often the first formal step in the property acquisition process and can help secure exclusive negotiation rights.
