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Loi To Purchase (Real Estate) for Philippines

Loi To Purchase (Real Estate) Template for Philippines

A Letter of Intent to Purchase Real Estate is a preliminary document used in Philippine property transactions that outlines a potential buyer's serious interest in purchasing a specific property and the proposed key terms of the transaction. This document, while generally non-binding except for specific provisions like confidentiality and exclusivity, serves as a framework for subsequent negotiations and the formal Sale and Purchase Agreement. Under Philippine law, this document must carefully consider restrictions on foreign ownership of land, local property registration requirements, and specific regulations governing real estate transactions in the jurisdiction.

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What is a Loi To Purchase (Real Estate)?

The Letter of Intent to Purchase (Real Estate) is a crucial preliminary document in Philippine property transactions that bridges initial discussions and formal purchase agreements. It is typically used when a potential buyer has identified a property of interest and wishes to formalize their intention to purchase while reserving the right to conduct due diligence. The document outlines key terms such as the proposed purchase price, payment structure, timeline, and any special conditions, while considering Philippine-specific requirements including foreign ownership restrictions, local government regulations, and tax implications. While most provisions are non-binding, certain elements like confidentiality or exclusivity periods may be explicitly binding. This document is particularly important in the Philippine context where property transactions often involve multiple stakeholders and require careful navigation of local legal requirements.

What sections should be included in a Loi To Purchase (Real Estate)?

1. Header and Date: Formal letter heading including date and addresses of both parties

2. Subject Line: Clear indication that this is a Letter of Intent to Purchase specific real estate

3. Opening Paragraph: Introduction of the parties and statement of intent to purchase the property

4. Property Details: Specific description and identification of the property including address, title details, and tax declaration number

5. Purchase Price: Proposed purchase price and any initial price negotiations

6. Payment Terms: Proposed payment structure including deposits, down payments, and balance payment schedule

7. Due Diligence Period: Proposed timeframe and scope for conducting due diligence investigations

8. Timeline: Proposed timeline for key transaction milestones including due diligence, contract signing, and closing

9. Conditions Precedent: Key conditions that must be met before proceeding with the transaction

10. Non-Binding Nature: Clear statement that the LOI is non-binding except for specified provisions

11. Closing: Signature blocks and formal closing of the letter

What sections are optional to include in a Loi To Purchase (Real Estate)?

1. Exclusivity Period: Used when buyer wants exclusive negotiating rights for a specified period

2. Confidentiality: Include when sensitive information will be shared during due diligence

3. Broker Information: Include if real estate brokers are involved in the transaction

4. Property Access: Include when specific arrangements for property inspection are needed

5. Deal Structure: Include for complex transactions involving special arrangements or corporate vehicles

6. Expiration Date: Include when the offer has a specific validity period

7. Local Requirements: Include any specific requirements for foreign buyers if applicable

What schedules should be included in a Loi To Purchase (Real Estate)?

1. Property Description Schedule: Detailed technical description of the property including lot area, boundaries, and improvements

2. Initial Due Diligence Checklist: List of documents and information required for preliminary due diligence

3. Proposed Payment Schedule: Detailed breakdown of payment terms and schedule if complex payment structure is proposed

4. Property Photos: Recent photographs of the property and its immediate vicinity

5. Title Information: Copy of the latest title and tax declaration documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ 抖阴短视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Philippines

Document Type

Buy-Sell Agreement

Cost

Free to use
Relevant legal definitions






























Clauses






























Relevant Industries

Real Estate

Commercial Property

Residential Property

Industrial Property

Retail

Hospitality

Manufacturing

Agriculture

Office Space

Mixed-Use Development

Infrastructure

Healthcare

Education

Relevant Teams

Legal

Finance

Real Estate

Corporate Development

Operations

Compliance

Risk Management

Business Development

Facilities Management

Asset Management

Investment

Administrative Support

Relevant Roles

Real Estate Manager

Property Development Manager

Chief Financial Officer

Legal Counsel

Corporate Lawyer

Business Development Manager

Investment Manager

Facilities Manager

Asset Manager

Acquisitions Manager

Real Estate Broker

Property Manager

Corporate Secretary

Risk Manager

Compliance Officer

Chief Executive Officer

Operations Director

Industries








Teams

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