Document background
A Letter Of Intent For Selling Property is a crucial preliminary document used in Dutch property transactions to establish the framework for negotiations between a potential buyer and seller. It is typically used before entering into a binding purchase agreement (koopovereenkomst) and serves to document the parties' serious intention to proceed with the transaction. The document outlines key terms including the proposed purchase price, property details, due diligence requirements, and timeline for completion. While generally non-binding, it may contain certain binding provisions regarding confidentiality and exclusivity. This document is particularly important in the Netherlands due to the specific requirements of Dutch property law and the formal nature of property transactions in this jurisdiction.
