What Is A Property Option
Common Questions And Answers
YOUR PROPERTY QUESTIONS ANSWERED
Can you please clarify what the option agreement entails?
The property block will make you a legally binding promise to buy your house or property at the agreed price. This may be after the completion of a specified event such as planning permission has been granted.
As the potential seller you will make a legally binding promise to see us your house at the agreed price and within the agreed timescale.
In a nutshell we buy your property before a specified date.
Can I have a more in depth description of the option The Property Block are presenting?
First of all we can make all assurances that the financial offer you receive will be generous and above market value. We aim to make it as attractive as possible to ensure you will be fully compensated.
We quickly start the process of planning applications as soon as the contracts are signed.
Throughout the process you will have a dedicated member of staff to be available to discuss any concerns or questions.
Our standard initial agreement is for one year, which means we maintain the right to buy your property for 12 months.
If there are any unforeseen delays, for example appeals, we can extend our agreement for 6 months from the original time scale. This will not change the agreed sum stated in the contract when the property is sold.
If you are happy with our proposals the legal side can be handled within as little as 2 weeks but as with everything each property is individual and can take longer. The planning applications can take up to a year, but so far we have been able to complete all of these processes in around 5 months.
This sounds like an offer to good to be true. Can you confirm this is what would happen?
We are a team of highly skilled and experienced professionals. We have the expertise to unlock the value of your property which makes a great and profitable deal for both parties.
What happens if I don’t get planning permission?
Our team of experts deal with planning permission every day and have a sound knowledge of what is acceptable and what is not. If we were to be unsuccessful, which is unlikely you will be notified straight away. Your agreement will be void and you will incur no costs. You will be free to do whatever you wish with your property.
How much is this going to cost me?
This process will cost you as the homeowner nothing. We will not charge you for agents or legal fees as part of our agreement and offer contact.
I’ve had offers like this in the past. Why should I chose The Property Block?
We are unique in that we fully and carefully balance the risk between us and the potential vendors. Our aim is for the homeowner to have zero financial outlay throughout the whole process. This is what sets us aside from other companies.
As professionals we are diligent in our checks and will only make an offer to you if your land or property passes our very stringent criteria.
YOUR GARDEN QUESTIONS ANSWERED
Does selling part of my garden mean the value of my property decreases?
The gardens that we look to purchase are very large and time consuming to maintain. The most popular gardens with purchasers are those that are still a good size, but easy to manage. Therefore the part loss of your property should not affect the resale value of your home and can even make it a more attractive proposition.
By using our experts in landscape gardening and architects we ensure that your garden is still in proportion to the size of your house.
Will the trees on my plot all be destroyed?
With most developments it is inevitable that some of the trees might need to be lost as they can be in the way of construction of new homes. There are very strict regulations regarding trees and any tree with a tree preservation order on it will be protected. Lost trees will be replaced as part of a scheme we are happy to participate in with the local authority, these will be of the same specimen or variety.
In some cases such as evergreen trees we will replace with deciduous trees to give more light and allow the planting below to thrive. This helps the environment by producing more oxygen and has a beneficial effect on CO2 levels in the future. We will manage the environment of any green area to maintain good condition with any development.
I’m worried about privacy and being overlooked?
Our designs will always take into account your privacy and we endeavor to keep disruption to a minimum. By trying to keep established trees and greenery we can achieve this. Planning laws are notoriously strict regarding this matter and plans that do not satisfy them in this respect will not be passed.
What about vehicles and machinery disrupting my land and access?
No vehicles or machinery will encroach on your land. Access to the site of the new development will be created, and done so as to not disturb your property or access to it. Any roadway will be separate entrance and this will be screened from your view.
I want to keep good relations with my neighbours. What happens if they do not agree with the plans?
As a company we will contact your neighbours and explain the full development. They will have an opportunity to discuss this with us and we will deal with any queries they may have. As part of planning consent the local authority will write to your neighbours and they will be able to raise any concerns.
What about parking and any extra cars in my road?
There are parking standards to which we must adhere. With any development we need to provide residents and visitor parking. In the event that the local planning authority decide upon a reduction in the standard parking recommendations, an independent parking survey will be carried out on your street to ascertain whether there would be sufficient street parking for the excess vehicles. In these checks any other development in your area that are not yet built will be taken into consideration.
Will there be disruption to me with the contractors working all hours?
We are very aware that the majority of our developments are in suburban areas and we take our responsibly very seriously to cause a minimum disruption. We have a time schedule from the local authority for working on the build and will note any noisy or external work outside the permitted hours. We are always aware of keeping traffic to a minimum and have a social responsibility to the residents.
I have a number of outbuildings on the proposed development area. Will you relocate them for me?
The Property Block will always work our hardest to move any sheds/greenhouses or garages to a new, suitable location in your garden that you are retaining.
Does having a mortgage prevent me from selling the land?
You will need to advise your mortgage company and get consent. They will guide you through the release of part security. Your solicitor will also be able to advise you on this, but it is not necessary to do this before you sell to us. We will, of course pay any administration fees that your mortgage company charges you.