Legal Forms
To search for a particular term please use the following search box.
Important Notice : Lawyerintl.com strongly recommends that you seek independent legal advice from a qualified lawyer before using any of the forms on this site, in order that you can verify the forms are suitable for your needs.
Option Agreement
OPTION AGREEMENT
For $ [Amount paid] paid in hand to [Name of optionor], referred to as OPTIONOR, gives, grants, bargains and sells to [Name of optionee] referred to as OPTIONEE the exclusive right to purchase the following Property: [Description of property] until [Date of option] upon the terms and conditions stated herein.
The OPTIONEE may exercise this option by [Number of days notice to exercise option] days written notice to the OPTIONOR. The sales price of the Property shall be a total of $ [Amount paid] CASH
The OPTIONEE shall receive [Percentage of the sums paid] percent of the sums paid for the option as a credit towards the purchase price.
Upon exercise of this option by OPTIONEE, a closing shall take place within [Number of days for the closing to occur] days.
The OPTIONOR shall convey to the OPTIONEE by [Method of sale] the property herein, and with customary warranties.
The reasonable closing costs for closing this transactions shall be borne by the parties according to local customs
Signature of OPTIONOR Date
Signature of OPTIONEE Date