Development land option agreement

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Jules A. has already sent a proposal.
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Description

Experience Level: Intermediate
Hi Jules,
Trust you are well. Could you give me a price please for you to draft an option agreement for some land I want to seek planning for property development building. I'm sure its quite a standard document but I need the following covered…

• There will be approx. £50k in architect & planning fees to get planning permission. In the event I don’t purchase the land for whatever reason I would want this amount repaid to me when the land is sold. Can this be stated in the deeds?

• I would want to state that if I don’t buy the land for whatever reason but I do get planning and the land is sold for more than the original asking price (as I increased its value) that I get the difference?

• Is this agreement legally binding? If so how is it enforced?

• What would the duration of the agreement be for?

Many thanks

James Pike


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