Why or When would someone need this service?
If you are a property developer or residential property owner and looking to sell a site or property for development. This may include a residential property which is intended to be demolished and replaced with new building(s).
How does this process work? What are the steps?
When selling a site for development there are various contracts that can apply:
The contract can be:
Conditional: for example the purchaser will only buy the land if planning permission is granted and once granted the contract becomes unconditional
Unconditional: no conditions and a fixed completion date can be agreed
Option Agreement: the buyer has an option to purchase the property/land once planning has been granted. The buyer does not have to exercise the Option if planning is granted
The contract can include an overage payment which is a requirement for the buyer to pay you an additional amount of money sometime in the future
When you instruct us we investigate the title and discuss the proposal and advise you on the best type of contract to enter into.
Mortgage – if you have a mortgage then we liaise with your mortgage lender regarding the redemption of the mortgage when the sale concludes. If however you are selling part of the land then the lenders consent is require to remove the mortgage from the land being sold.
How long does it take?
These transactions usually require speed and efficiency and most are exchanged within four to six weeks from receipt of instructions.
Is it expensive? How does the cost work?
We shall provide you with a fixed fee quote which will be subject to our terms and conditions. Each transaction is different and we shall provide you with a competitive quote.
What are the things people should consider before calling?
Timing and what suits you.
If you enter into an Option Agreement or Conditional Agreement then you cannot sell to anyone else until the expiry of the contract so if your circumstances change you cannot rescind the contract without the buyers consent.
Why are Grant Saw the best people for the job?
Maria Lati has many years’ experience in acting for property and land owners selling land for development. This extends to people who are selling their home for development, property inherited for development or developers who have obtained planning permission and selling the land with the benefit of planning permission.
- https://grantsaw.com/People/maria-lati
- https://grantsaw.com/People/aisha-mohammed
- https://grantsaw.com/People/deborah-taite
- https://grantsaw.com/People/emily-pearce
- https://grantsaw.com/People/tyrone-grant
- https://grantsaw.com/?post_type=people&p=832
- https://grantsaw.com/People/randeep-thethy
- https://grantsaw.com/People/trisha-djemal
- https://grantsaw.com/People/michelle-pinnington
- https://grantsaw.com/People/sarah-hogan
Meet the Residential Property team
