Document background
The Letter of Interest to Purchase Property is a crucial initial document in Hong Kong's property acquisition process, typically used before entering into a formal sale and purchase agreement. This document is particularly important in Hong Kong's dynamic real estate market, where property transactions require careful documentation and clear expression of intent. While not legally binding for the final purchase, it serves as a formal indication of serious interest and helps establish the basic framework for subsequent negotiations. The letter typically includes essential information such as property details, proposed purchase price, basic terms, and conditions for due diligence. In Hong Kong's competitive property market, this document helps secure the seller's attention and can potentially lead to exclusive negotiation rights. It's commonly used in both residential and commercial property transactions, providing a structured approach to initiating the purchase process while allowing both parties to proceed with further detailed negotiations.
