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Write a Letter of Intent to Sell for a property owner

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Letter of Intent to Sell Property

[Your Full Name]
[Your Address]
[City, State, ZIP Code]
[Email Address]
[Phone Number]

[Date]

[Recipient's Full Name]
[Recipient's Address]
[City, State, ZIP Code]

Dear [Recipient's Full Name],

Re: Letter of Intent to Sell Property Located at [Property Address]

I hope this letter finds you well. I am writing to formally express my intent to sell the property located at [Property Address], [City], [State], [ZIP Code]. As the owner of the aforementioned property, I am keen to engage in negotiations with you regarding the sale.

Property Description

The property in question is a [brief description of the property, e.g., "three-bedroom, two-bathroom single-family home with a spacious backyard and modern amenities"]. It is situated in a prime location, offering [mention any key features such as proximity to schools, shopping centers, public transportation, etc.].

Terms and Conditions

I propose the following terms and conditions for the sale of the property:

Purchase Price: The proposed purchase price for the property is KES [amount in figures] ([amount in words]).
Deposit: A deposit of KES [amount in figures] ([amount in words]) will be required upon signing the sale agreement.
Closing Date: The closing date for the transaction is proposed to be on or before [specific date], subject to mutual agreement.
Inspection: The buyer will be allowed to conduct a property inspection within [number] days from the date of this letter.
Contingencies: The sale is contingent upon [mention any contingencies, e.g., "the buyer securing financing," "a satisfactory property inspection," etc.].
Other Terms: [Include any other terms or conditions relevant to the sale].

Legal Considerations

This letter of intent is not a binding agreement but serves as a basis for further negotiations. A formal sale agreement will be drafted and signed by both parties upon reaching a mutual understanding of the terms and conditions.

Next Steps

I am open to discussing the terms outlined above and addressing any questions or concerns you may have. Please feel free to contact me at [your phone number] or [your email address] to schedule a meeting or to discuss this matter further.

Thank you for considering this proposal. I look forward to the possibility of working together to finalize the sale of the property.

Sincerely,

[Your Full Name]
[Your Signature]

TLDR

This letter serves as a formal expression of intent to sell the property located at [Property Address]. It outlines the proposed terms and conditions for the sale, including the purchase price, deposit, closing date, and contingencies. The letter is not legally binding but serves as a basis for further negotiations.

Conclusion

A well-drafted Letter of Intent to Sell Property is crucial in initiating the sale process. It helps in outlining the key terms and conditions, thereby facilitating smoother negotiations and ensuring that both parties are on the same page. If you have any further questions or need assistance in drafting a legally binding sale agreement, please do not hesitate to reach out.

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