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Letter Of Intent To Sell Property To Tenant
"I need a Letter Of Intent To Sell Property To Tenant for my three-bedroom condominium in Singapore which my current tenant wants to purchase for $1.2 million, with completion planned for March 2025."
1. Identification of Parties: Details of current property owner and tenant intending to purchase, including full names, addresses, and identification numbers
2. Property Details: Complete description and address of the subject property, including lot number, floor area, and property type
3. Purchase Price: Proposed purchase price, payment terms, and any deposit requirements
4. Timeline: Proposed timeline for completion of the sale, including key milestones and deadlines
5. Due Diligence: Timeframe and requirements for conducting necessary checks and verifications
1. Good Faith Deposit: Terms and conditions of the initial deposit, including amount, payment method, and refund conditions
2. Exclusivity Period: Duration and terms during which the seller agrees not to entertain other offers
3. Conditions Precedent: Specific conditions that must be met before proceeding with the sale, such as financing approval or property inspection
4. Confidentiality: Terms regarding the confidentiality of the transaction and related information
1. Property Floor Plan: Detailed layout and measurements of the property
2. Title Search Results: Recent title search showing current ownership and any encumbrances
3. Property Valuation Report: Professional valuation report of the property if available
4. List of Fixtures and Fittings: Detailed inventory of items included in the sale
Authors
Tenant
Owner
Purchase Price
Completion Date
Good Faith Deposit
Due Diligence Period
Exclusivity Period
Effective Date
Business Day
Existing Lease
Encumbrances
Title Documents
Completion
Valuation
Property Tax
Permitted Use
Stamp Duty
Legal Representatives
Serious Intent
Binding Terms
Non-Binding Terms
Option to Purchase
Sale and Purchase Agreement
Conditions Precedent
Property Agent
CEA
URA
HDB
Purchase Price
Payment Terms
Due Diligence
Exclusivity
Good Faith Deposit
Timeline
Conditions Precedent
Representations and Warranties
Confidentiality
Non-Binding Nature
Binding Provisions
Property Inspection
Title Investigation
Existing Tenancy
Costs and Expenses
Notices
Governing Law
Termination
Assignment
Entire Understanding
Amendments
Further Assurance
Time of Essence
Severability
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