What Is An Option Agreement?

Have you heard about an option agreement?
Want to know how it can benefit you?

An option agreement lets you protect your opportunity to buy or sale land in the future. Option agreements can help lock-in a sale/purchase price for a future transaction. They also allow time to obtain planning or meet other conditions that could affect your plans with the land and help minimise your risks. Depending on your negotiating position, there are different types of option agreements available. As a potential seller, you can benefit from a non-refundable payment once you have entered into an option agreement, whether the buyer proceeds to buy or not. As a potential buyer, you can benefit by securing a site.

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