Options and Overage
We act for both developers and land owners in negotiating Option Agreements and Overage Agreements.
An Option Agreement gives a developer the right to buy a piece of land within a specified period e.g. 5 years. This is often used for speculative development proposals. Options can range from the very simple, just giving the buyer an absolute right to buy at a future time of their choosing, to the complex, requiring the buyer to apply for planning permission or to acquire additional land or rights.
Option and Overage Agreements
An Overage Agreement can be used where the seller is concerned that the land they are selling may have further development potential. The Overage Agreement will require the buyer to pay further monies to the seller if they obtain a further or enhanced planning permission to develop the land in the future.
Appointment
Please telephone the contact numbers below to arrange an appointment to
see one of our property solicitors.
Eastbourne – 01323 727321
Hailsham – 01323 841841
Polegate – 01323 487051
Meads – 01323 407577
Accreditations
We are particularly proud to be a member of the Association of Leasehold Enfranchisement Practitioners, the Conveyancing Quality Scheme and Lexcel which are badges of assurance to our clients that they will receive a consistently high level of service, integrity and professionalism from us.