A Letter Of Intent To Purchase (Real Estate) is a crucial preliminary document used in Belgian real estate transactions when a potential buyer wishes to formally express their interest in purchasing a property while reserving the right to conduct due diligence and negotiate final terms. This document is particularly important in the Belgian real estate market, where pre-contractual liability principles can create binding obligations even in preliminary agreements. The document typically precedes the final purchase agreement (compromis de vente/verkoopcompromis) and outlines key terms including property details, proposed purchase price, due diligence requirements, and any conditions precedent. While generally non-binding as a whole, certain provisions such as confidentiality and exclusivity can be made explicitly binding. This document is commonly used in both commercial and residential real estate transactions, particularly in complex transactions where detailed due diligence is required before proceeding to a binding agreement.
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1. Identification of Parties: Full legal names and addresses of both the potential purchaser and the property owner
2. Property Details: Precise identification and description of the property, including address, cadastral details, and relevant specifications
3. Purchase Price: Proposed purchase price and any conditions or assumptions related to the pricing
4. Transaction Timeline: Proposed timeline for due diligence, negotiations, and completion of the final purchase agreement
5. Due Diligence: Outline of the intended due diligence process and requirements
6. Exclusivity Period: Duration during which the seller agrees not to negotiate with other potential buyers
7. Closing Conditions: Key conditions that must be met before proceeding with the final purchase
8. Binding vs Non-binding Provisions: Clear statement of which provisions are intended to be binding and which are not
1. Deposit Terms: Include when a good faith deposit is to be provided as part of the LOI
2. Financing Conditions: Include when the purchase is contingent on securing specific financing
3. Environmental Conditions: Include when there are specific environmental concerns or requirements
4. Confidentiality Provisions: Include when parties wish to make confidentiality obligations binding
5. Break Fee: Include when parties agree to a fee if either party withdraws under specific circumstances
6. Property Access: Include when specific arrangements for property inspection and access during due diligence are needed
1. Property Plans: Floor plans, site plans, or cadastral excerpts identifying the property
2. Preliminary Due Diligence Checklist: List of documents and information required for due diligence
3. Proposed Transaction Timeline: Detailed timeline with key milestones and deadlines
4. Current Lease Information: Summary of existing leases or occupancy agreements, if applicable
5. Property Specifications: Detailed description of property characteristics, dimensions, and features
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Commercial Property
Residential Property
Retail
Industrial
Hospitality
Office Space
Mixed-Use Development
Healthcare Facilities
Education Facilities
Logistics and Warehousing
Agricultural Real Estate
Relevant Teams
Legal
Real Estate
Property Management
Corporate Development
Mergers & Acquisitions
Finance
Investment
Facilities Management
Asset Management
Risk Management
Operations
Relevant Roles
Real Estate Director
Property Manager
Legal Counsel
Corporate Lawyer
Real Estate Agent
Property Developer
Investment Manager
Acquisitions Manager
Facilities Manager
Chief Financial Officer
Chief Executive Officer
Real Estate Investment Analyst
Development Director
Asset Manager
Transaction Manager
Portfolio Manager
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