Document background
A Letter of Intent to Sell Land is commonly used in German real estate transactions as a preliminary step before entering into a binding purchase agreement. This document is particularly relevant when parties wish to formally express their serious intention to enter into a land sale transaction while still maintaining flexibility for negotiations. It typically includes key commercial terms, property details, proposed purchase price, timeline for due diligence, and any specific conditions that need to be met before proceeding to a binding contract. Under German law, while the Letter of Intent itself doesn't usually require notarization, it should acknowledge that the final sale agreement will require notarial authentication. This document is especially useful in complex real estate transactions where detailed due diligence is necessary or when parties need to secure financing or obtain regulatory approvals before proceeding with the final sale.
