The Real Estate Intent to Purchase Form is a crucial preliminary document in property transactions within England and Wales. It is typically used after initial negotiations but before the exchange of contracts, serving as a formal expression of the buyer's serious intention to proceed with the purchase. The document includes essential information such as property details, proposed purchase price, timeline, and any conditions precedent. While not legally binding, it provides a clear framework for the transaction and helps prevent misunderstandings between parties. It's particularly useful in establishing clear communication and commitment between parties while solicitors prepare for the formal conveyancing process.
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1. Parties: Details of the potential buyer and seller including full names, addresses, and contact information
2. Property Details: Full description of the property including address, title number, and property type
3. Purchase Price: Proposed purchase price, payment terms, and deposit details
4. Timeline: Expected completion date, key milestones, and notice periods
5. Due Diligence Requirements: Required searches, investigations, and surveys to be conducted before purchase
1. Conditional Clauses: Specific conditions that must be met before proceeding with the purchase, such as mortgage approval or sale of existing property
2. Chain Details: Information about property chain and dependencies on other transactions
3. Special Requirements: Any unique circumstances, requirements, or conditions specific to this transaction
1. Property Plan: Land Registry compliant plan of the property showing boundaries and relevant features
2. Fixtures and Fittings List: Preliminary list of items included and excluded from the sale
3. Property Information Form: Basic information about the property's condition, history, and known issues
4. Proof of Funds: Evidence of buyer's ability to proceed with purchase including mortgage agreement in principle or proof of cash funds
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