Intent to Purchase Letter

The Letter of Intent to Purchase is the very first commitment before the reservation or purchase of your property in Thailand. The buyer writes the Letter of Intent to Purchase, and the seller signs it if the conditions for buying his apartment or house are met. This registration allows the buyer and seller to seal the contours of the real estate transaction and the net sales price desired by the owner of the property in question. The letter of intent to purchase is a brief confirmation of the discussions between the two parties during the real estate negotiation phase. The Letter of Intent to Purchase is a preliminary contract in a real estate transaction. This letter is a legal document as it is frequently used following a negotiation between a buyer and a seller on their intention to purchase. The letter of intent to purchase represents the promise to purchase signed by the buyer and the seller. This letter of intent to purchase should not be confused with the preliminary sales agreement or the deed of purchase. The letter of intent to purchase is not mandatory. It is nevertheless a valuable tool to formalize a framework in the case of a real estate transaction.

The letter of intent usually comes into play quite early in the process of buying your property in Thailand. It becomes useful when you want to demonstrate your intention to buy and start discussions on all the elements of the sale. This analysis will represent an essential mobilization of your time and the commitment of certain expenses (type of property, price, payment, transfer of property, construction, and others). For the seller, the continuation of discussions with the buyers could involve the diffusion of confidential information. Thus, it is essential to allow your withdrawal under good legal conditions if certain aspects of the selected property do not meet your expectations. Thus, the formalization of the Letter of Intent allows you to verify if the parties are in phase on these critical points before engaging in real talks: timetable of the transaction, price calculation, financing, transfer of ownership, etc.

The format is completely free, and you can write your letter of intent yourself. This allows you to use a vocabulary that is understandable and shared by the seller.

The buyer informs the seller of his desire to acquire his property by a letter presenting:

With Themis Partner, you can obtain your letter of intent to purchase a property in one click, which can be modified. You are free to add optional information, such as the duration of the offer to purchase or the signing of a preliminary contract. Many real estate agencies offer their own offer to purchase templates, but many of them are imprecise. However, you will find a suitable model with us.

Before submitting a letter of intent to purchase a property in Thailand, consider evaluating the property you are interested in in order to formulate a realistic and acceptable price offer to the seller. You can do this by finding out the average price per square meter, looking at offers for similar properties, or possibly asking a real estate agent for advice.

The safest way is to write a letter of intent to purchase, which is a written offer to buy. It will have legal force and will be contractually binding if the seller accepts it. If in doubt, it is advisable to make an oral offer to purchase to the seller. However, this does not commit the seller to reserve the property for you. The seller can therefore offer the property to other buyers.

The standard letter of intent to purchase a property must contain a certain number of essential mentions: the purchase price of the property, the duration of validity of your offer to purchase and the conditions of acceptance by the seller.

The addition of other clauses will allow you to protect yourself in the event of a setback, to withdraw from the sale without penalty if you do not obtain your bank loan, or if the estimate of the work is higher than your expectations. The seller is not obliged to accept your offer to purchase: he can refuse it or make you a written counter-proposal. You can also make your purchase offer through a real estate agency! In addition to advising you on your purchase, they will help you in your steps by writing your letter of offer to purchase.

The offer to purchase real estate is a form of commitment in the transaction, intervening before the signature of the promise to sell or the compromise of sale. It is a summary way of reserving the property by showing interest. By writing a letter of offer to purchase a property, you indicate to the seller your desire to acquire the property for sale. However, it is a document that should not be neglected and that must contain a certain number of essential mentions.

To be valid, the offer to purchase a property must be in writing. Once the seller has accepted your offer, the sale is considered concluded. This standard letter of offer to purchase a property must mention a certain amount of essential information: