Option Agreements, Overage Agreements, and Conditional Contracts
Increasingly, we see our clients looking to realise some of the value in their land by negotiating with local or national developers. There are a number of types of agreement which can be made with the developer to purchase the land, should they be able to get appropriate planning permission to develop the land, whilst protecting your interest to the increase in value.
Our team are experienced in drafting, reviewing and negotiating the following:-
- Option agreements (where the buyer has an exclusive option to buy the land for a certain period of time)
- Overage agreements (where the seller has a right to a certain proportion of the increase in value of the land sold)
- Conditional contracts (where the buyer is bound to purchase the property on receipt of acceptable planning permission)
Fosters Solicitors Team of Business & Commercial Lawyers have a wealth of experience and knowledge to assist you in relation to any legal query or matter you may have. Call us on 01603 620508 or complete our online enquiry form and a member of the department will be in touch very soon.
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