Option to Buy Real Estate
 When to Use this Agreement
Use this agreement when you wish to secure the sale or purchase of a parcel of real estate at a predetermined price and date.
An Option to buy Real Estate is a contract between two parties giving the purchaser the exclusive right, without the obligation to buy the property. During the term of the option no-one else can buy or sell the property including the owner. For accepting this obligation the seller received and keeps an option fee whether the option is exercised or not.
The buyer may then either exercise his or her right under the contract by completing the property purchase or sell the option to someone else to exercise (or sell).
If the option holder exercises their right under the contract, the seller is obliged to complete the sale under the predetermined conditions.
An option represents an equitable interest in the property and is often used to gain control over a property without paying the full price.
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This Option Agreement is formatted for your convenience using Microsoft Word and comes to you as an MS Word Template. You can use this template time after time, simply edit the fields as you require and print your agreement.
The document defines rights, and responsibilities of each party and clearly spells out specific conditions that apply to the transaction. This means it protects the interests of those involved by putting in writing what is expected of each party.
The Contract includes the following provisions -
- Option
- Assignment
- GST Adjustment
- Notices
- General
- Governing Law
- The property
- The Contract
View Sample Document
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* This agreement includes a complimentary copy (A $97 VALUE!) of R. P. Emery & Associates newly revised 3rd Edition, "Agreement Preparation Tips, Hints & Secrets" publication. It will show you in simple terms how to thoroughly cover important legal requirements, and how to complete an agreement in detail. In addition, it contains alternative legal clauses and provisions you can use Click here to read more about the book.
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Au$99.95 |
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