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conditional contracts & option agreements

Lees solicitors have considerable experience in option agreements and are able to advise and act on behalf of both the seller and the buyer.
An option agreement is a contract that gives a party the right to buy land or property often linked to a specific period of time. This agreement often ties the seller but does not tie the buyer meaning the buyer has the freedom to decide whether or not they wish to purchase without having to provide a reason. Because of this an option agreement is usually the most desirable and flexible instrument for a buyer.

A conditional contract sets out specified conditions and both parties are bound by the terms from the outset. Formal completion is linked to the satisfaction of the condition and therefore a conditional contract provides the seller protection by preventing the buyer walking away if the condition is satisfied.

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