FAQs

Everything you need to know if you want to buy land.

What types of land can I find through Land Converter?

We specialise in unused spaces in city locations. These could be part of a large garden, a rooftop or a row of garages. Any plot that has the potential for a home and that is likely to get planning permission.

What is an option agreement?

An option agreement is a legally binding contract between you (the housebuilder) and the landowner. It gives you the option to buy the land within a fixed period of time for the price agreed in the contract conditional to you gaining planning permission.

How does taking over an option agreement from you benefit me?

With an option agreement, you aren’t committed to buying the land until you have secured planning permission. Even then, you are under no obligation to buy the land. An option agreement offers a de-risked route to buying land without planning approval, which gives you greater scope to build a home-based on your own design.

With our experience in developing homes on land and unused spaces in cities, we only hold options for plots that we are confident will gain planning permission. They all have planning and conveyancing surveys completed on them before we take on the options.

As with any legal contract, it’s very important that you get INDEPENDENT LEGAL ADVICE before signing an option agreement.

How long are your option agreements?

We hold 2.5-year options with the sellers. We have up to 6 months to market the plot before it passes back to the seller, and the period remaining on the option will depend on how long it has been listed with us.

What must I pay for the option?

There is a fixed option fee of £5,000 for any option on land valued up to £250,000 and a fee of 2% of the land value for plots valued over and above £250,000. You pay this when you take on the option. At this time your option on the property will be registered with the Land Registry.

What other fees are there?

There are no other fees payable to us. Once you have the option on the property you deal directly with the landowner and your solicitor if you decide to go ahead with the purchase.

Want to find out what your land and roof space could be worth?

Tell us about the space you want to sell

Fill out our land valuation form now > Or call us on 0207 739 2400

Got any question before you start? We’ve tried to answer as many as we can in our FAQs.
If you have any others, please get in touch on
info@landconverter.co.uk