At Sam Hawking Property Lawyers we work with our property investment clients when it comes to developing option contracts. These agreements can be complex, particularly for the uninitiated.
An Option is the right , but not the obligation, to purchase a property some time in the future.
Option Contracts can be stand-alone agreements and can be used for residential and commercial property agreements. Option Contracts used by investors seeking to make a profit from property, for example by securing planning permission and finding a buyer for more money. Option Contracts may also be linked to another agreement such as a Lease. This can be very useful where the buyer cannot raise sufficient finance at the moment and the seller needs an income from the property as soon as possible. The buyer can then rent the property until they are in a position to buy it.
We are experienced in negotiating the most favourable terms and conditions to get the best option contract in place according to your specific needs.