Increasingly, we see our clients looking to realise some of the value in their land by negotiating with local or national developers. There are varying types of agreement which can be made with the developer to purchase the land, should they be able to obtain appropriate planning permission to develop, whilst protecting your interest to the increase in value.
Our team are experienced in drafting, reviewing and negotiating the following:
- Conditional contracts (where the buyer is bound to purchase the property on receipt of acceptable planning permission);
- 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 in the future).
We will also liaise with agents and valuers to ensure that any deal entered into is both legally binding and commercially appropriate.
Recognised and recommended
The Legal 500 UK 2024 rankings note the Fosters’ Commercial Property team as ‘proactive and always one step ahead for the client’s protection and benefit’.
Law Society accredited
The Law Society awards accreditations to legal practices and solicitors who meet the highest standards of technical expertise and client service in specific areas of law. We are members of their Conveyancing Quality Scheme (CQS), which is the recognised quality mark for legal experts in buying or selling property, and is trusted by some of the UK’s biggest lenders.