A Letter Of Intent For Purchase Of Commercial Property is a crucial preliminary document used in Malaysian commercial real estate transactions when a potential buyer wishes to formally express their interest in purchasing a property while maintaining flexibility for negotiation. This document is typically used after initial discussions but before committing to a binding Sale and Purchase Agreement, allowing parties to outline key terms, conduct due diligence, and secure exclusivity periods. Under Malaysian jurisdiction, while mostly non-binding, certain provisions like confidentiality and exclusivity can be enforced. The document typically includes property details, proposed purchase price, payment terms, due diligence requirements, and timelines, all while considering Malaysian property laws and regulations.
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1. Date and Address Block: Formal letter heading with current date and recipient's complete address
2. Subject Line: Clear identification of document as Letter of Intent for Purchase of Commercial Property with reference to the specific property
3. Opening Paragraph: Introduction of the parties and their roles (prospective purchaser and property owner)
4. Property Details: Specific description and identification of the commercial property, including address, land title details, and size
5. Purchase Price: Proposed purchase price and basic payment terms
6. Key Terms: Essential terms of the proposed purchase including timeline, conditions precedent, and major obligations
7. Due Diligence: Timeline and scope of due diligence investigation
8. Exclusivity Period: Duration during which the seller agrees not to negotiate with other parties
9. Confidentiality: Statement on confidentiality of negotiations and information exchange
10. Non-Binding Nature: Clear statement that the LOI is non-binding except for specific clauses (like confidentiality)
11. Next Steps: Process for moving forward to formal Sale and Purchase Agreement
12. Closing and Signatures: Formal closing, signature blocks for both parties
1. Deposit Terms: Include when an initial deposit is to be paid with the LOI
2. Foreign Investment Provisions: Required when the purchaser is a foreign entity, addressing relevant Malaysian foreign investment requirements
3. Broker/Agent Details: Include when real estate agents or brokers are involved in the transaction
4. Existing Tenancies: Include when the property has existing tenants and how these will be handled
5. Financing Contingency: Include when purchase is subject to obtaining specific financing
6. Property Management Transition: Include for properties with ongoing management requirements or services
1. Property Details Schedule: Detailed description of the property including lot number, title details, floor plans, and current use
2. Financial Terms Schedule: Detailed breakdown of the proposed purchase price, payment schedule, and any adjustments
3. Due Diligence Checklist: List of required documents and information for due diligence review
4. Current Encumbrances: List of existing charges, liens, or other encumbrances on the property
5. Property Photographs: Recent photographs of the property and its major features
6. Existing Contracts Schedule: List of service contracts, maintenance agreements, or other ongoing obligations attached to the property
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Logistics and Warehousing
Healthcare Facilities
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Real Estate
Finance
Corporate Development
Risk Management
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Operations
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Relevant Roles
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Chief Financial Officer
Real Estate Director
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Corporate Lawyer
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Property Investment Manager
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