Option Agreements

Option agreements are common in property development. Whether you are buying or selling property, we can draft an option agreement which will adequately protect you and promote your interests.

Accurate drafting of an option agreement is essential. We can assist in ensuring your option agreement sufficiently protects you in the face of unforeseen circumstances which may arise in the time before the option is exercised.

Option agreements will provide for a purchaser to buy land during a fixed period, which may be extended in some circumstances, either at a fixed price or at market valuation following the grant of a planning consent.

Because an option agreement does not commit a purchaser we understand that it is not necessary to undertake all the usual due diligence and that agreeing and exchanging option agreements is essential to secure a site for development.

Option agreements often include overage provisions and dispute resolution clauses and we have the experience required to draft these agreements.

To discuss the legalities surrounding option agreements further, please contact our commercial property team here or call 020 8290 0333.