A Letter Of Intent To Purchase Residential Property is a crucial preliminary document in Nigerian property transactions, serving as a formal expression of interest from a potential buyer to a property owner. This document is typically used at the early stages of a property transaction, after initial property viewing and price discussions but before entering into a formal sale agreement. It outlines the proposed terms of the purchase while maintaining flexibility for further negotiations. Under Nigerian law, particularly considering the Land Use Act of 1978, this document helps establish the framework for due diligence, acknowledging both statutory requirements and any relevant customary land considerations. While primarily non-binding, it demonstrates serious intent and can include certain binding provisions such as confidentiality or exclusivity periods.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Sender and Recipient Details: Full names and addresses of both the potential buyer (sender) and the property owner (recipient)
2. Date: Date of the letter, which establishes the timeline for any validity periods mentioned
3. Subject Line: Clear identification as a Letter of Intent to Purchase Residential Property
4. Property Description: Detailed description of the property including address, land registry details, and property specifications
5. Purchase Price: Proposed purchase price and any initial price negotiations
6. Payment Terms: Proposed payment structure, including any deposits or staged payments
7. Due Diligence Period: Proposed timeline for conducting property and title investigations
8. Transaction Timeline: Proposed schedule for key milestones including inspection, documentation, and closing
9. Non-Binding Nature: Clear statement that this is not a binding purchase agreement except for specific terms
10. Closing Statement: Request for response and next steps
11. Signature Block: Space for signature of the potential buyer
1. Exclusivity Period: Used when buyer requests exclusive negotiation rights for a specific period
2. Confidentiality Clause: Used when sensitive information will be shared during due diligence
3. Condition of Property: Used when specific property conditions need to be addressed or verified
4. Financing Contingency: Used when purchase is dependent on securing specific financing
5. Local Government Consent: Used when property is in an area requiring specific local government approvals
6. Existing Tenancies: Used when property has current tenants and their status needs addressing
7. Cultural or Customary Considerations: Used when property involves traditional land rights or customary law considerations
1. Property Details Schedule: Detailed description of property including boundaries, certificates of occupancy details, and registered title information
2. Preliminary Terms Sheet: Summary of key commercial terms proposed for the transaction
3. Due Diligence Checklist: List of required documents and verifications needed from the seller
4. Proof of Funds: Evidence of buyer's financial capability to complete the purchase
Find the exact document you need
Office Use Agreement
A Nigerian law-governed agreement establishing terms for temporary office space usage, including use rights, services, and operational conditions.
Download
Simple Land Use Agreement
A Nigerian law-compliant agreement establishing temporary land use rights and conditions between a landowner and user.
Download
Auto Sale Contract
A Nigerian law-governed contract for the sale and purchase of motor vehicles, documenting transfer terms and ensuring regulatory compliance.
Download
Open Space Agreement
A Nigerian law-governed agreement establishing terms for open space use, management, and maintenance, ensuring compliance with local regulations and environmental requirements.
Download
Joint Use Agreement
A Nigerian law-governed agreement establishing terms for shared use of facilities or infrastructure between multiple parties.
Download
Content Use Agreement
A Nigerian law-governed agreement that establishes terms and conditions for content licensing, usage, and distribution between content owners and users.
Download
Simple Occupancy Agreement
A basic legal agreement under Nigerian law establishing temporary occupancy rights and obligations between a property owner and occupier.
Download
Premises Use Agreement
A Nigerian law-governed agreement establishing terms and conditions for premises usage, detailing rights and obligations of property owners and users.
Download
Temporary Use Agreement
A Nigerian law-governed agreement establishing terms for temporary use of property or assets, defining rights and obligations between owner and user.
Download
License To Use Trademark
A Nigerian law-governed agreement granting rights to use specified trademarks, including terms for usage, quality control, and royalty payments.
Download
License To Occupy Residential Property
A Nigerian law-governed agreement granting temporary permission to occupy residential property without creating tenancy rights.
Download
Use And Occupancy Agreement
A Nigerian law-governed agreement establishing temporary property occupation rights without creating a formal tenancy, specifying use terms and parties' obligations.
Download
Single Use Music License
A Nigerian law-governed agreement granting limited rights for specific use of a musical work, detailing usage terms and compensation.
Download
Non Use Agreement
A Nigerian law-governed agreement establishing restrictions on the use of specified information or assets, with enforcement mechanisms and compliance requirements.
Download
Brand Usage Agreement
A Nigerian law-governed agreement defining terms for authorized brand usage, including licensing rights, quality control, and compliance with local IP regulations.
Download
Image Rights Contract
A Nigerian law-governed agreement establishing terms for commercial use of image rights, including usage scope, territorial rights, and compensation structure.
Download
Memorandum Of Agreement For The Use Of Property
A Nigerian law-compliant agreement establishing terms and conditions for property use between owner and user.
Download
Logo Licensing Agreement
A Nigerian law-governed agreement establishing terms for licensed logo usage, including rights, restrictions, and quality control requirements.
Download
Rent Agreement For Commercial Use
A Nigerian law-governed agreement establishing terms and conditions for commercial property rental, defining rights and obligations of landlord and tenant.
Download
License To Use Agreement
A Nigerian law-governed agreement granting specific usage rights for intellectual property or proprietary materials while maintaining original ownership.
Download
Intellectual Property Use Agreement
A Nigerian law-governed agreement establishing terms for intellectual property licensing and usage rights, including commercialization and protection mechanisms.
Download
Equipment Use Agreement
A Nigerian law-governed agreement establishing terms and conditions for equipment use between owner and user, including usage rights, maintenance, and liability provisions.
Download
Equipment Sale Contract
Nigerian law-governed contract for equipment sale and purchase, detailing terms, specifications, and obligations between parties.
Download
Employee Equipment Use Agreement
A Nigerian law-governed agreement setting terms for employee use of company equipment, including responsibilities, security requirements, and return procedures.
Download
Auto Sales Contract With Payments
A Nigerian-law governed vehicle sales contract template with installment payment provisions, compliant with local automotive and consumer protection regulations.
Download
Vehicle Use Agreement Between Two Parties
A Nigerian law-governed agreement establishing terms and conditions for vehicle use between two parties, including usage rights, responsibilities, and liabilities.
Download
Contract For Use Of Property
A Nigerian law-compliant agreement establishing terms and conditions for property use between an owner and user.
Download
Facility Use Agreement
A Nigerian law-governed agreement establishing terms and conditions for temporary facility use, including rights, responsibilities, and operational procedures.
Download
Music License For Video
A Nigerian law-governed agreement for licensing music usage in video content, protecting rights holders and content creators.
Download
Usage Agreement
A Nigerian law-governed agreement setting out terms and conditions for the use of specific assets, services, or facilities, including rights, restrictions, and obligations of all parties.
Download
Option To Buy Agreement
A Nigerian law-compliant agreement granting exclusive rights to purchase specified property within a defined period.
Download
Non Exclusive Perpetual License
A Nigerian law-governed agreement granting permanent, non-exclusive rights to use specified intellectual property while allowing the licensor to license to other parties.
Download
Master Use License
A Nigerian law-governed agreement establishing comprehensive terms for content usage rights and licensing relationships between content owners and users.
Download
License Agreement For Use Of Real Property
A Nigerian law-governed agreement that grants permission to use real property for a specified purpose and duration, with defined terms and conditions.
Download
Letter Of Intent To Purchase Residential Property
A preliminary document under Nigerian law expressing intent to purchase residential property, outlining key terms and conditions while maintaining a largely non-binding nature.
Download
Temporary Land Use Agreement
A Nigerian law-governed agreement establishing temporary land use rights, detailing terms of occupation, compensation, and restoration requirements.
Download
Software Usage Agreement
A Nigerian law-governed agreement defining terms and conditions for software usage, including licensing, data protection, and user obligations.
Download
Lease Agreement For Land Use
A Nigerian law-governed agreement establishing terms for temporary land use rights between a lessor and lessee, compliant with the Land Use Act 1978.
Download
Grazing Land Lease Agreement
A Nigerian law-compliant agreement for leasing land for grazing purposes, establishing rights and obligations between landowners and graziers.
Download
Simple Car Sale Contract
A straightforward vehicle sale agreement template for use in Nigeria, ensuring compliant transfer of vehicle ownership between parties.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)