Option to Purchase Real Estate Property

Company Letterhead

{{company_name}}

{{company_address}}

Phone: {{phone}}

Email: {{email}}

Website: {{website}}

OPTION TO PURCHASE REAL ESTATE PROPERTY

THIS OPTION AGREEMENT ("Agreement") is made and entered into this {{day}} day of {{month}}, {{year}}, by and between:

{{seller_name}}, with a physical address at {{seller_address}} (hereinafter referred to as "the Grantor");

AND

{{buyer_name}}, with a physical address at {{buyer_address}} (hereinafter referred to as "the Grantee").

1. GRANT OF OPTION

In consideration of the payment of the Option Fee (as defined below) by the Grantee to the Grantor, the Grantor hereby grants to the Grantee an exclusive option ("Option") to purchase the immovable property described as: {{property_description}}, situated at {{property_address}}, held under Title Deed Number {{title_deed_number}} (hereinafter referred to as "the Property").

2. OPTION PERIOD

The Option shall commence on the date first written above and shall expire at {{time}} on {{option_expiry_date}} (hereinafter referred to as "the Option Period"). Time is of the essence.

3. OPTION FEE

In consideration for this Option, the Grantee shall pay to the Grantor a non-refundable option fee of {{option_fee_amount}} ({{option_fee_currency}}) on or before {{option_fee_payment_date}} (hereinafter referred to as "the Option Fee"). The Option Fee shall be applied towards the Purchase Price if the Option is exercised, or forfeited to the Grantor if the Option is not exercised.

4. PURCHASE PRICE

The total purchase price for the Property, should the Option be exercised, shall be {{purchase_price_amount}} ({{purchase_price_currency}}) (hereinafter referred to as "the Purchase Price").

5. EXERCISE OF OPTION

The Grantee may exercise this Option by giving written notice to the Grantor at {{seller_email_address}} or {{seller_physical_address}} on or before the expiry of the Option Period. Such notice shall clearly state the Grantee's unequivocal intention to purchase the Property. Failure to give such notice within the Option Period shall render this Agreement null and void, and the Option Fee shall be forfeited.

6. TERMS OF SALE

Upon the valid exercise of this Option, the parties shall, within {{days_to_sign_sale_agreement}} days of such exercise, enter into a formal Sale Agreement embodying the terms and conditions contained herein and such other standard clauses as are customary for the sale of immovable property in {{jurisdiction}}, including but not limited to, provisions regarding transfer duties, conveyancing attorneys, and vacant possession.

7. DUE DILIGENCE

During the Option Period, the Grantee shall have the right, at its own expense, to conduct all necessary due diligence investigations regarding the Property, including but not limited to, site inspections, environmental assessments, and review of all relevant documents such as title deeds, plans, and zoning regulations. The Grantor shall provide reasonable access to the Property and all relevant documentation required for the due diligence process.

8. GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of {{jurisdiction}}.

9. SIGNATURES

THUS DONE AND SIGNED at {{place_of_signing}} on this {{signing_day}} day of {{signing_month}}, {{signing_year}}.

_____________________________

Grantor: {{seller_name}}

Identity Number: {{seller_id_number}}

_____________________________

Grantee: {{buyer_name}}

Identity Number: {{buyer_id_number}}