Residential land values
What is an Option Agreement and what happens if there is a dispute?
An “Option to Purchase” land for residential development is a legal agreement between two parties that gives one party the exclusive right, but not the obligation, to buy a specific piece of land within a predetermined time frame.
Residential property market remains ‘challenging’
Gary Jeffries, Vail Williams Partner, says the residential property market is displaying some resilience, however, transactions are down, putting further downward pressure on house prices.