Document background
The Property Purchase Letter of Intent is a crucial preliminary step in Singapore's property acquisition process. It is typically used when a prospective buyer wishes to formally communicate their serious interest in purchasing a property before proceeding with the binding Option to Purchase. The document outlines essential terms including the proposed purchase price, payment structure, timeline for completion, and any specific conditions or requirements. While primarily non-binding, it demonstrates commitment and often includes provisions for exclusivity periods and due diligence requirements. This document is particularly relevant in Singapore's structured property market, where clear documentation of intentions and terms is valued by all parties.
