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Land Purchasing
Options
bullit822000
Posts: 6 Forumite
I am currently looking to enter an agreement with another party to purchase a plot of land. I am agreeing to purchase the land for a proposed fee, subject to planning permission being granted. I will then go through the planning process at my own cost and time, and should this be granted then I will finalize the purchase for the agreed fee. However, if planning is declined for the site, I do not purchase the land. I am looking to write up a contract and get this signed by both parties, possibly introducing a small deposit as an initial purchase installment. Do I need to get a solicitor involved, or would this be legally binding doing it myself?
0
Comments
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Well, it would be legally binding doing it yourself, but that doesn't mean in a good way!
The fact that you have not used the phrase 'option to buy' at any point tells me you aren't that experienced at this kind of thing (because that is the contract you describe).
So yeah get a solicitor involved. It's a normal kind of transaction for those of them who deal in property. If you go ahead and purchase the land it probably won't cost much more than normal.2 -
If you don't even know whether or not what you're doing will be legally binding, you definitely shouldn't be doing it yourself...Is the other party using a solicitor?0
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