Frequently Asked Questions

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 firstly on signing of contracts and then each month, 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:

  • Once you sign the contract to say that you have officially decided to sell your house to us, we will pay you up to 1% of the house price upfront.
  • For the duration of the agreement we will give you additional monthly instalments
  • The initial agreement is for 12 months (this means we have the right to buy your house within one year).

 

  • If obtaining planning permission takes longer than expected (i.e. in the case of a planning appeal), then this initial agreement can be extended for a further 6 months.
  • 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 thinking up ways to enjoy your advances of up to £1,000 a month.

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.

With all the current political and economic uncertainty, is now really a good time to sell?

It’s a well-known fact that when the world shakes, so does the property market. Therefore it isn’t surprising that most current homeowners like you remain uncertain about the future. Here at Lumière Property however, we want to provide you with some certainty amongst the turmoil. Your property is a valuable asset, and we can help you lock-in that value, in order to un-lock a brighter future.

By selling your house to us, you will not only likely to receive an offer above current market value, but that offer will be fixed: a reassuring notion in the midst of all this current political change.

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. The initial payment and 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 using a pre-agreed legal team. We take care of all planning fees too.

When do I have to move out of my house?

You will always be kept up to date on the progress of any planning application on your home. This means you will have a good understanding of when the sale will be complete and when it will be time to move on. We promise to give you at least 30 days’ notice at the very minimum.

Will estate agents be coming round all the time?

No. There’ll be no estate agent valuation visits and no endless viewings. Once we’ve done our homework, we’ll make you a firm, above-market offer.

What will happen to my house after I sell it?

Each house is different so there’s no single answer here. We do specifically identify properties with development potential, but any aspirations for the site must deal sympathetically with the surroundings and neighbourhood for it to be a success in our eyes. Sometimes we will build the redevelopment ourselves, and sometimes our partners will build out the site.

Can I get planning permission myself?

It may seem a good idea to get planning permission yourself to maximize the value of your home. This is of course always an option open to you. However, keep in mind that the planning process can be complicated, long-winded and expensive. It can also be a disappointing waste of money if planning permission is not granted.

Lumière Property are planning experts with the experience and talent to navigate the planning minefield. We can take care of design and planning applications at no risk and no cost to you, while you benefit from an above market purchase price on your home.

Let's have a little chat with no strings

By Phone
By Phone

Head office 0208 434 7044





Quote Mark
After meeting Chris and Andrew from Lumière Property I felt they were very open, explained everything well and were able to give me a good offer. I felt safer with Lumière Property than selling through a local estate agent and it’s proved to be a good business relationship.
Mr White - Sutton