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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.
Your professionally drafted option agreement is available for immediate download. The document comes to you as a Microsoft Word and PDF template that can be used as often as you like. Simply insert the correct information in the appropriate field and tab to the next. Now print your professional 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.
View Sample Document
<!– Buy Option to Buy Real Estate Agreement
