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Letter of Offer for Land Purchase
Document Type
Microsoft Word (Editable)
Pages
2
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Document Overview
A Letter of Offer for Land Purchase is a formal written document used in real estate to express serious intent to buy land, typically sent by a prospective buyer to a seller.
Key Components:
1. Parties’ Details
2. Property Description
3. Purchase Price and Terms
4. Deposit (if applicable)
5. Due Diligence Conditions
6. Timeline for Acceptance
7. Next Steps
8. Non-binding Clause
9. Signatures
10. Optional Attachments
Purpose:
1. To initiate the purchase process by showing genuine interest and commitment to acquire the land.
2. To outline the key terms of the proposed transaction before a full sale agreement is drafted.
3. To allow the seller to review and accept, reject, or negotiate the offer.
4. To serve as a basis for due diligence by giving the buyer time to investigate the title, ownership, and any land issues.
5. To protect both parties by documenting the initial understanding of the sale, even though it is non-binding.
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