Document background
The Notice of Intent to Purchase is a crucial preliminary document in New Zealand's commercial and property transactions. It is typically used when a potential buyer wishes to formally express their serious intention to purchase a property or asset before proceeding with a full sale and purchase agreement. This document helps establish the framework for negotiations and demonstrates commitment while allowing both parties to proceed with due diligence. The notice should include essential details such as the asset description, proposed purchase price, timeline, and any key conditions. While not legally binding for the final purchase, it often forms the basis for developing the final agreement and may be required for various purposes, including securing financing or obtaining necessary approvals. The document must align with New Zealand legal requirements, particularly the Contract and Commercial Law Act 2017 and other relevant legislation.
