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Granting or taking an Option over land
We act for a variety of clients – both those who are granting an option over their land and those who are taking an Option.
Our selling clients may not have the funds to apply to the local planning authority for planning permission on land they own and may negotiate with a local developer who is prepared to submit a planning application but has asked our client to grant an option to purchase rather than a conditional contract.
We spend time with our selling clients to understand the nature of the transaction and if our client is retaining land, then it is extremely important to carefully consider and make provision for future rights and obligations.
Irrespective of which side of the transaction we are on, we advise our clients in relation to the option terms and prepare/negotiate an appropriate and bespoke Option Agreement. If our client needs expert advice from a local surveyor in relation to the sale/purchase price, if this is to be calculated based on the permission granted, then we can sign post our clients to trusted local experts.
Alternatively, our clients may well consider a Promotion Agreement and we have provided some further information in that section of our new build services on our website if you are unsure which route to take.