Document background
A Letter of Intent to Buy Land serves as an important preliminary step in Singapore property transactions, establishing the framework for subsequent negotiations and the formal sale and purchase agreement. This document is typically used when a serious buyer wishes to formally express interest in a property while reserving the right to conduct due diligence and negotiate final terms. It includes key information such as property details, proposed price, timeline for completion, and any specific conditions or requirements. Under Singapore's legal framework, the document must consider various regulations including foreign ownership restrictions, zoning laws, and property tax implications. While generally non-binding in nature, certain provisions such as confidentiality and exclusivity can be made legally binding.
