Have you got land to sell?
Whether you have a large garden you are looking to plot a profit from or a commercial building in a residential area, we can help.
Land is usually offered for sale in one of three ways:
Selling with or without consent
Land sold with planning consent usually achieves a higher value than land sold without. This is mainly due to the reduced risk factor for the buyer, and the costs associated with the planning process.
Subject to planning consent
When a piece of land is sold STP (Subject to Planning) the interested buyer will agree to buy the site and submit a planning application at their own cost. If planning consent is granted the sale will be completed. This agreement will be covered by what is known as either an option or conditional contract (see next page for more details).
While selling a site in this manner has its risks and can be a lengthy process, our experience will help you push through all the clutter. Both of the other selling options are attractive to buyers too – and whatever your planning status, we’ll know exactly how to help.
Joint Venture Agreements
Going into partnership with a developer can be rewarding. However, if you’re entering into a relationship with a house builder, it’s important to have some experience on your team. We’ll make sure the developers are treating you fairly, and are likely to help you achieve your objectives. If not, we’ll find you a new company to partner with, or help you to go it alone. It’s just another way to show you we care.
Understanding contract jargon
Conditional contracts
A legal measure used by developers when they’re speculating on a piece of land, but need Planning Consent to carry out the developments that they deem necessary. Under a Conditional Contract, their purchase of your land is dependent on them gaining planning permission.
Options
An Option is more informal than a Conditional Contract, and involves the developer paying you a small premium to, in effect, reserve the land for future purchase. Options are used to reserve land for 1-10 year terms.
Lock Outs
A shorter-term agreement that prevents you from selling to anyone other than the specified developer for up to 6 months. This measure is normally used to provide the developer with an opportunity to carry out detailed investigations and surveys. After 15 years selling land, we really know our stuff. With knowledge that spans everything from the technical terms, to the companies you’re partnering with, we can help you clear the way forward. So for some impartial advice – or just a friendly chat – get in touch today.