Overage agreement: buyer side; simple

A complete and practical overage agreement for a property buyer to put to a seller as an incentive for the seller to sell his land. The agreement can be as soft as the buyer wishes. It is drawn as a simple version so that the buyer can minimise his future obligations. Practical and flexible.
  • Solicitor approved
  • Plain English makes editing easy
  • Guidance notes included
  • Money back guarantee
About
Preview
Why from us
Ask a question

About this simple overage agreement

This document is for a property buyer. This agreement has been drawn for you to present to your prospective seller and around which you can negotiate your agreement. This is a comparatively simple version in which the seller’s rights do not pass from the present buyer to a future buyer. The effect is that the present buyer is bound for the overage period, but can sell a title “clean” of attached overage.

Furthermore, to make calculation of the overage charge simple, it bites only when a planning consent increases the land value by a given (substantial) sum. It thus avoids the possibility of multiple small overage charges.

The aim of this agreement is to provide a framework which entices future owners to develop and not one which ensures that they do not develop.

When to use this buyer’s overage agreement

This agreement can be used in the acquisition of any land, for any purpose. However, we assume it will be used most frequently for a situation where the buyer intends to apply for planning permission for substantial development.

This document is in plain English. Nonetheless it is a sophisticated document drawn by a property specialist solicitor. It is suitable whether you are an individual or work through a company incorporated in the Republic of Ireland.

Net Lawman also offers an overage agreement for a buyer where the obligations of the buyer are rather greater but nevertheless considerable softer than the very tough versions often offered by a seller.

Contents of this overage agreement

  • Definitions
  • Interpretation
  • Overage Payment: payment terms
  • The Overage Payment: Surveyor’s valuation
  • Release to enable Transfer
  • Miscellaneous matters
     
Draftsman

This document was written by a solicitor for Net Lawman. It complies with current Irish law.

What Our Clients Say
  • "I will certainly be advertising your company to other business colleagues.

    The lease was like picking up an old favourite novel and understanding everything from the first turn of the page. So easy to read and complete, what a joy and your site was recommended to me by another colleague.

    Hope this brings a smile to your face knowing you are making business life easy for people and furthermore the price was just as pleasing.
    "

    Eileen L (Introsports Limited)
  • "I bought a Confidentiality Agreement for my business and was extremely satisfied."

    Working Holiday Ireland
  • "I found information I had been looking for on citizens information.ie about capabilities of the power of attorney, and revoking it, which I could not find elsewhere. Extremely useful, lifesaver "

    Rory Sheridan