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15 August 2018 0 Comments Posted in Opinion, Real Estate

Property development overage – another cautionary tale

Posted by , Partner

overage property development royds withy king

Overage is a common method for sellers to realise increased value for their land where, for example, a planning permission is subsequently obtained for development of the land. Properly drafted, an overage agreement can work for both parties by maximising value for the seller and de-risking potential overpayment by the buyer. However, it is vital that the agreement is clear as to what overage will be payable, on what basis and when. Mistakes can be costly!

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