Document background
A Property Purchase Letter of Intent serves as an initial formal step in Malaysian property transactions, typically used before entering into a binding Sale and Purchase Agreement. This document is essential when a potential buyer wishes to formally express their interest in purchasing a property while reserving the right to conduct due diligence and negotiate final terms. Under Malaysian jurisdiction, while the letter itself is generally non-binding, it helps establish the framework for subsequent negotiations and can include binding provisions such as confidentiality and exclusivity periods. The document typically outlines proposed purchase price, property details, timeline for due diligence, and key conditions, providing a structured approach to initiating property transactions in accordance with Malaysian property laws and regulations.
