The Letter Of Intent To Sell House is a crucial preliminary document in Indonesian property transactions, particularly important in a legal system where formal documentation of intent holds significant weight. This document is typically used when a potential buyer has serious interest in purchasing a property but before proceeding with the final sale agreement. It outlines key aspects such as the property details, proposed purchase price, and timeline for completion. While primarily non-binding, it serves as a foundation for further negotiations and due diligence processes. The document must comply with Indonesian Civil Code requirements and local property regulations, making it an essential step in the property acquisition process. It's particularly valuable in complex transactions or when dealing with high-value properties where detailed preliminary agreements are necessary.
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1. Date and Place: The date of the letter and the city/location where it is executed
2. Parties' Information: Complete details of both the potential seller and buyer, including full names, addresses, and ID numbers
3. Property Details: Specific description of the property including address, certificate number, land area, building area, and other relevant identifying details
4. Purchase Price: Proposed purchase price and any preliminary agreements on payment terms
5. Timeline: Proposed timeline for due diligence, negotiations, and completion of the final sale agreement
6. Non-Binding Nature: Statement clarifying that this is a non-binding expression of intent, except for specific clauses
7. Signatures: Space for signatures of both parties and witnesses if required
1. Exclusivity Period: A period during which the seller agrees not to negotiate with other potential buyers
2. Confidentiality: Terms regarding the confidential treatment of information exchanged during negotiations
3. Due Diligence Access: Terms allowing the potential buyer to conduct property inspections and document reviews
4. Broker/Agent Details: Information about any real estate agents or brokers involved in the transaction
5. Conditions Precedent: Any specific conditions that must be met before proceeding with the final sale
1. Property Details Schedule: Detailed description of the property including photographs, floor plans, and land certificate details
2. Property Documents List: List of all relevant property documents that will need to be reviewed during due diligence
3. Proposed Payment Schedule: If applicable, a preliminary schedule of payment installments and terms
4. Property Inspection Report: If already conducted, preliminary inspection findings or condition report of the property
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