Document background
A Letter Of Intent For Buying Property is a crucial preliminary document in New Zealand property transactions, typically used before entering into a formal Sale and Purchase Agreement. It serves as a structured way to communicate serious interest in a property purchase while allowing flexibility for negotiations. The document is particularly valuable in complex property transactions or when dealing with commercial properties where detailed negotiations are necessary. While primarily non-binding, it can include binding provisions such as confidentiality and exclusivity clauses. The document must align with New Zealand property law requirements and typically precedes more detailed due diligence and formal contract negotiations.
