The Commercial Real Estate Letter Of Intent Template is a crucial preliminary document in Singapore's property market, typically used before entering into a formal Sale and Purchase Agreement. This document serves as a formal expression of interest and outlines key commercial terms between parties. While predominantly non-binding, it may contain certain binding provisions such as confidentiality and exclusivity. The template is designed to comply with Singapore's property laws and commercial practices, providing a structured approach to initiating commercial real estate transactions.
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Key Requirements PROMPT example:
Commercial Real Estate Letter Of Intent Template
I need a Commercial Real Estate Letter Of Intent Template for purchasing a tHRee-story office building in Singapore's Central Business District, with a planned completion date of March 2025 and specific provisions for existing tenant arrangements.
1. Property Details: Specific identification and description of the commercial property including address, land area, built-up area, and current use
2. Purchase Price and Payment Terms: Proposed purchase price, payment structure, and any specific terms related to the financial aspects of the transaction
3. Due Diligence Period: Specified timeframe and terms for conducting property investigations, title searches, and other necessary reviews
4. Binding/Non-binding Statement: Clear declaration of which provisions are intended to be legally binding and which are non-binding expressions of intent
5. Exclusivity Period: Duration and terms during which the seller agrees not to negotiate with other potential buyers
1. Deposit Terms: Details of any required initial deposit, including amount, timing, and whether refuNDAble or non-refuNDAble
2. Conditions Precedent: Specific conditions that must be satisfied before proceeding with the transaction, such as regulatory approvals or financing
3. Break Fee Provisions: Terms regarding compensation if either party terminates negotiations, including circumstances and amounts
4. Property Access Terms: Conditions under which the potential buyer can access the property for inspections and assessments
5. Confidentiality Provisions: Terms regarding the confidential treatment of information exchanged during negotiations
1. Property Floor Plan: Detailed layout and architectural drawings of the commercial property
2. Title Search Results: Recent title search documentation showing current ownership and any encumbrances
3. Zoning Certificate: Documentation of current zoning status and permitted uses of the property
4. Building Inspection Report: Preliminary condition assessment of the property, if available
5. Property Photographs: Recent photographs documenting the current condition of the property
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