As the national housing shortage continues, particularly in rural areas, development land is very much in demand. You may even have been approached by a developer or promoter who is interested in your land.
Property sales are never risk-free, with buyers able to pull out of a deal sometimes for the most incongruous of reasons. Many farmers negotiate a conditional contract to sell their development land which, as Andrew Little, agricultural law specialist at Ware & Kay Solicitors in York & Wetherby explains, provides some certainty for the seller that the land will be bought.
A conditional contract is a contract between a landowner and a developer which will only be completed if the condition or conditions stated in the agreement happen. If the conditions are fulfilled, the developer is legally obliged to buy the land…