Frequently Asked Questions

You probably have some questions about what Lumière is proposing for your property. Select Property or Garden to find the most relevant answers to some commonly asked questions. If you can't find what you are looking for, please get in touch.

What is an option agreement?

Good question. It’s pretty simple really:

  • As the potential seller, you make a legally binding promise that we can purchase your house at an agreed price within an agreed time-frame, or after completion of a certain event (for example, once planning permission has been obtained).

 

  • In return, we make a legally binding promise to give you a certain amount of money during the contract period, which you get to keep whether the sale goes ahead or not.
  • Basically, you agree to give us the option of buying your house before a certain date.

Ok, but what are the details of the option agreement Lumière is proposing?

We believe that our option agreement is both generous and attractive:

  • Before you sign the contract to say that you have officially decided to sell your house to us, we will agree together on an up-front payment and/or monthly instalment payments to you for the duration of the agreement.
  • The initial agreement is for 18 months (this means we have the right to buy your house within a year and a half).

 

  • If obtaining planning permission takes longer than expected (i.e. in the case of a planning appeal), then this initial agreement can be extended if required in order to complete the transaction.
  • If your house is sold, then we pay you the agreed selling price, minus any payments that have already been paid.
  • If your house is not sold, then you get to keep all the payments made up until that point.

How long does it take?

We’re no quick-sell company. At the end of the day, adding value takes time. Ensuring the very best possible planning outcome for our vendors takes time. Once you’ve contacted us, we’ll need 2 working weeks to do our research and carefully assess the potential in your property. We will need a further 3 weeks for our design and planning team to develop concrete plans before we can give you a final offer.

If you like what you hear, then the legal progress can take as little as 2 weeks, although to be honest, this can often take longer. Once that side of things is all sewn up, the planning process can take up to 12 months, but you’ll be able to stay in your home until completion. You’ll be kept fully up to date during the process so you will have ample notice of when to start looking for your next home.

Is this all a little too good to be true?

With our skills as planning specialists and house builders, we have the experience needed to unlock the value in your home, making the sell a good deal for everyone involved. No doubt you’ll have heard from ‘easy sell’ companies before, but we really believe that our process is unique.

For one, we aren’t promising to sell your house in a week or a month. In fact, that’s one of the many benefits: you’ll have time and autonomy to move home at your own pace.

What happens if you don't get planning permission?

Our targeted approach and experienced team means we are experts at achieving planning permission. In the rare event that we are not able to secure planning permission, we will notify you as soon as possible. Any initial payment or monthly instalments that you would have already received would be yours to keep. The options agreement would be voided, and we would part ways, leaving you free to do whatever you wished with your property.

What fees will I incur?

None. There will be no estate agent fees, and part of our offer to you is to pay your associated legal fees up to £3,000 using a pre-agreed legal team. We take care of all planning fees too.

I have received similar letters from other companies, why should I pick Lumiere Property?

We sometimes speak with homeowners that have already received letters from other companies interested in purchasing either part of their garden or their entire property. Lumiere Property strives to offer a unique proposal to our clients. Unlike our competitors we focus on balancing the risk between each of the parties involved.

We do this through financial assurance as well as aiming to make a zero (£0) financial outlay for the homeowner throughout the process. We are professionals, we only present an offer if the property or land meets our risk profile by passing a series of diligent checks.

Let's have a little chat with no strings

By Phone
By Phone

Head office 0208 434 7044

By Phone

By Phone

Head office 0208 434 7044






Quote Mark
I have no complaints with Lumiere whatsoever, 10/10. In any business deal, there is a standard you would expect and Andy lived up to those expectations. He was always very courteous and clear about what Lumiere could deliver. There were no false promises and he has been very upfront throughout.
Mr Horsewood - Purley