Document background
The Real Estate Intent To Purchase Form is a crucial preliminary document in Nigerian property transactions, used when a potential buyer wishes to formally express their interest in acquiring a property while maintaining legal protections for both parties. This document is typically used after initial property viewing and price discussions but before entering into a binding sale agreement. It includes essential details such as property description, proposed purchase price, earnest money provisions, and timelines for due diligence and closing. The form acknowledges Nigerian land law requirements, particularly the Land Use Act, and serves as a foundation for further negotiations and legal documentation. While not binding for the final purchase, it demonstrates serious intent and often includes provisions for earnest money to show good faith. This document is particularly important in Nigerian real estate transactions where property rights and transfer procedures require careful consideration of both federal and state regulations.
