Option Agreements Whether you are a landowner or a developer, you will find a well-negotiated option agreement to be of great benefit. For a prospective purchaser, the agreement defines a timescale during which they have the option of purchasing a piece of land at a point in time that has been agreed in advance (usually the grant of planning permission). They gain the right to purchase the land, but it may not be required immediately. This allows flexibility, and provides time to secure other business that may be required before work can proceed. For the landowner, an option agreement can often guarantee an upfront payment, as well as gaining a solid commitment from the developer that they will be seeking opportunities to purchase and develop the land in question once planning permission is obtained. At Howkins & Harrison, we know just how crucial it is to ensure an option agreement is fully and properly negotiated. The length of the agreement and the valuation of the land, as well as the detailed terms about who owes what and at which times, are all vital in making sure the agreement works properly for both parties. Our surveyors are qualified and experienced in this specialist area and we can provide you with considered and detailed advice.