EOI stands for Expression of Interest in the context of real estate. It is a non-binding offer made by a buyer (individual, company, or investor) to show serious interest in purchasing or leasing a property or participating in a real estate project.
✅ Key Features of an EOI in Real Estate:
1️⃣ Indicates Buyer’s Interest
An EOI is submitted to signal intent — it shows the buyer is genuinely interested but is not yet committing to a final agreement.
2️⃣ Usually Includes:
- Buyer’s name and details
- Description of the property/project of interest
- Tentative offer price or bid
- Any conditions or preferences (e.g., due diligence, inspection)
- Timeline for negotiation or final offer
🔍 Common Scenarios Where EOI is Used:
🏢 Project Sales & Land Parcels
Authorities like development authorities, housing boards, RERA bodies, or Smart Cities often invite EOIs from:
- Builders or developers (for land development or PPP projects)
- Investors (for joint ventures or sale of built-up space)
🏠 High-Demand Residential or Commercial Properties
Real estate brokers or sellers might accept EOIs to gauge market demand before conducting:
- Auctions
- Tender-based sales
- Private negotiations
⚖️ Legal Nature of EOI
- Non-binding: It is not a final sale agreement or contract.
- But once accepted, parties often move to:
- LOI (Letter of Intent)
- MoU (Memorandum of Understanding)
- Agreement to Sell
✍️ Why Use an EOI?
- Helps sellers identify serious buyers early
- Enables pre-screening in government land or project tenders
- Gives buyers a foot in the door without full commitment
- Saves time and effort before due diligence and final offer