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Letter Of Intent For Purchase Of Commercial Property
"I need a Letter Of Intent For Purchase Of Commercial Property to acquire a 5-story office building in Singapore's Central Business District, with a purchase price of SGD 25 million and a planned completion date of March 2025."
1. Sender Details: Full legal name, address and registration details of the party making the offer
2. Recipient Details: Full legal name, address and registration details of the property owner/seller
3. Property Identification: Detailed description of the subject property including address, lot number, size and any relevant title details
4. Purchase Price: Proposed purchase price, payment structure and timeline for payments
5. Deposit Terms: Amount of deposit, when it should be paid, and conditions for refund or forfeiture
6. Timeline: Key dates including due diligence period, signing of sale and purchase agreement, and completion
7. Professional Fees: Allocation of legal fees, stamp duties, and other transaction costs
8. Signing and Acceptance: Signature blocks and acceptance terms
1. Exclusivity Period: Include when parties agree to exclusive negotiations for a specified period
2. Due Diligence Requirements: Include when specific investigation requirements or access arrangements need to be detailed
3. Conditions Precedent: Include when the transaction is subject to specific conditions such as board approval, financing, or regulatory clearances
4. Foreign Ownership Declaration: Include when the buyer is a foreign entity requiring additional approvals or declarations
5. Confidentiality Provisions: Include when parties wish to maintain confidentiality of negotiations and terms
1. Property Details Schedule: Detailed technical description of the property including floor area, specifications, and included fixtures
2. Title Search Results: Recent title search showing current ownership and any encumbrances
3. Floor Plans: Current floor plans and layout of the property
4. Payment Schedule: Detailed breakdown of payment milestones and amounts
5. Due Diligence Checklist: List of documents and information required for due diligence
Authors
Purchase Price
Deposit
Completion Date
Due Diligence Period
Business Day
Exclusivity Period
Permitted Use
Title Documents
Encumbrances
Completion
GST
Relevant Authority
Conditions Precedent
Property Information
Working Day
Material Adverse Change
Transaction Documents
Land Area
Built-Up Area
Floor Area
Strata Title
Existing Tenancies
Building Plans
Zoning Requirements
Sale and Purchase Agreement
Option to Purchase
Valuation Report
Professional Fees
Stamp Duty
Purchase Price
Payment Terms
Deposit
Due Diligence
Conditions Precedent
Exclusivity
Confidentiality
Binding Effect
Timeline
Property Access
Professional Fees
Costs Allocation
Representations and Warranties
Title and Ownership
Existing Tenancies
Property Condition
Termination
Notices
Assignment
Governing Law
Non-Binding Nature
Good Faith
Regulatory Compliance
Further Assurance
Entire Understanding
Variation
Severability
Stamp Duty
Time of Essence
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