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With costs often in the region of £2,000 per property, especially where multiple properties are involved, the investment can feel significant. However, the value of these searches in protecting your interests cannot be overstated.

Overage, also known as clawback, deferred consideration or uplift, gives a seller the right to receive further payments from a buyer in future. This usually happens when a certain event increases the value of the land, such as planning permission being granted.

In this article, we look at the key terms in a contract for the sale and purchase of a freehold commercial property.