Document background
A Letter of Intent to Buy Property is commonly used in Belgian real estate transactions as a preliminary step before entering into a binding purchase agreement. It is particularly useful when parties wish to formalize their initial understanding while maintaining flexibility for negotiations. The document typically precedes the more detailed "compromise de vente/verkoopcompromis" (preliminary sale agreement) and the final notarial deed. While primarily non-binding, it can include certain binding provisions such as confidentiality and exclusivity obligations. The document helps structure negotiations by addressing key points like purchase price, due diligence requirements, and transaction timeline, while complying with Belgian civil law and regional property regulations. It serves as a roadmap for the transaction and demonstrates serious intent while protecting both parties' interests during the negotiation phase.
