We make sure you are happy with the sale results
By now you have probably read our page “Promotion agreement or option agreement”. You will see that we have mentioned that a promotion agreement can be complicated – particularly around resolving any disagreement at the time of sale. Now we explain how we have come up with simple terms to overcome that problem. (We do not give you a comparable page for an option agreement because the concept is simpler and better understood)
We want you to know that we believe in absolute transparency and fairness in our agreement with every land owner. You may well decide to compare our service with that offered by others. You will find you have little access to the legal agreement. It will be submitted to your solicitor who may well assume you have agreed to the terms. Your solicitor may find it difficult to identify areas which may cause problems later. That’s why we want to give you our basic proposition as a web page rather than only in small print after your decision has been made.
Our promotion agreement is drawn so that our interest runs with yours every step of the way. However there is one point at which our interests could separate. That is the point of sale.
We are both concerned to obtain the best price. However, the national economy and the property market are fickle and unknown. The price of land with planning permission depends greatly on the housing market.
There are two linked issues where our interests might diverge: price and timing. They are connected of course. You may have owned your land for many years. You may be in no hurry to sell it. Over the medium to long term, land prices tend to increase. You may quite like the idea of keeping the land for another year or two. Alternatively, you may, like us, want your money out fast for a particular purpose or maybe because the market may fall.
If you look at the legal agreement put forward by any of the larger promotion companies you will find the sell-out arrangements to be mired in legalese and complications. Our director is manic about plain English. He even has an interest in a company which sells legal document templates in plain English.
Our legal agreement with you has been drawn to give effect to a very simple proposition which is fair and transparent. It works like this:
- We have the right connections in the right places to market your land with whatever planning permission we have obtained. We therefore start the process and pay for up-front costs. As you are aware, every estate agent has a legal obligation to pass to the client the details of every offer made. We shall instruct the estate agent to pass details to you as well as to us.
- We alone will negotiate with the estate agent, as necessary, so as to obtain what we believe is the best possible price home, taking into account the inevitable conditions which a buyer might attempt to impose.
- We will discuss with you. If we agree to accept a particular offer, it goes forward to your solicitors and in due course we both have our money.
- If the agents we appoint have not obtained an acceptable offer within 12 weeks, that triggers your option to take over the sale process through agents you choose and manage, copying us in as we did for you in the first instance.
- If your agents have not produced a satisfactory offer within a further 12 weeks, then the conduct of the sale reverts to us and obliges you to sell at the best price obtained in the previous 24 weeks. An offer shall not be regarded as a satisfactory offer if the sale contract has not been exchanged within four weeks, with a completion date no longer than four weeks ahead.
- Subject to the above terms, we may offer for, and subsequently buy the land, for development by a division of this company. We would never press you on this. Small sites are available constantly. The big advantage of selling to us is of course that the deal goes through a lot faster than if we spend several months marketing and as long again with solicitors, surveyors and so on. There is no downside. The procedure is the same as it would be if you were selling to anyone else. We do just make double sure that you are properly advised, so that there are no regrets.
Here is why it would be a good idea to use our services.
If you would like a useful summary of our services, here it is.