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I am in the process of submitting a planning application to my local Council and have been told I will require an 'option to buy agreement' with my neighbour. What is this type of agreement?
I am in the process of submitting a planning application to my local Council for a conversion of my triple garage into a one bedroom dwelling. I have been informed by my architect that I will need an 'option to buy agreement' with my neighbour who is willing to sell me a piece of his garden. Please can you advise what kind of agreement this is and whether you can draw this up and how much it would cost?
We assume from your enquiry that acquisition of the piece of garden is crucial to your planning application. The option agreement would be prepared by your neighbour's solicitors. The cost will be greatly dependent upon the nature and terms of the agreement but we would imagine that the cost would be between £200 and £400 plus VAT. Presumably the option would be exercisable on you being successful in procuring your planning consent.
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