The following Property precedent provides comprehensive and up to date legal information covering:
From: [insert name and address of proposed seller]
Strictly private and confidential
To: [insert name and address of proposed buyer or buyer’s agent]
Date [insert date]
Dear [insert organisation name]
Re: [insert address or description of the property], [registered title number[s] [insert number(s)]] (the ‘Property’)
In consideration of us, [insert name] (the ‘Seller’), agreeing to provide you, [insert name] (the ‘Buyer’), with certain confidential information about the Property to enable you to evaluate the Property for its potential [[development and] purchase OR letting] (the ‘Transaction’), you hereby undertake and agree with us as follows:
In this letter:
the directors and senior management whose knowledge of the Confidential Information is essential for evaluating the Property[ and its development potential][, and]
any agents or professional advisers acting on your behalf in connection with the Transaction[, and]
[any banker or other financial institution from whom you may seek finance for the Transaction]
all information relating to the Property that is obtained by you or any agents or professional advisers acting on your behalf in any form arising out of or pursuant to any discussions with the Seller or its agents or professional advisers, and
all information regarding the existence, nature or progress of any negotiations relating to the proposed Transaction (including the termination of such negotiations), the terms of this letter and the fact of its existence
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