H&R Hughes Solicitors LLP

Putting Your Interests First

Heathfield: 01435 890 101

27A High Street, Heathfield, TN21 8JR

Options and Conditional Contracts

These are the preferred arrangements for developers looking to buy potential development sites – particularly in the current economic times – however there remain traps for the unwary (and even for the experienced developer as a recent Court of Appeal case has shown).

It is critical that both parties know what they are signing up to and in the case of the developer in particular that it is certain it can comply with the letter of the obligations it has entered into.

The use of options and evermore complex arrangements (with adjustable price mechanisms and so on) is set to continue as developers look to “hedge their bets” while at the same time looking to the prospects in the future when the property market starts to show signs of recovery.

For more information on options, please contact ROD HUGHES on 01435 890101.

Private Client

Property Services