Option to Purchase Real Estate Property

{{company_name}}

{{company_address}}

Phone: {{phone}} | Email: {{email}} | Web: {{website}}

Option to Purchase Real Estate Property

Option to Purchase Real Estate Property

{{company_name}} {{company_address}} Phone: {{phone}} Email: {{email}} Website: {{website}}

OPTION TO PURCHASE REAL ESTATE PROPERTY

This Option to Purchase Real Estate Property (“Agreement”) is made and entered into this {{day}} day of {{month}}, {{year}}, by and between:

**Optionor (Seller):** {{seller_name}}, of {{seller_address}}

**Optionee (Buyer):** {{buyer_name}}, of {{buyer_address}}

1. GRANT OF OPTION

In consideration of the payment by Optionee to Optionor of the sum of {{option_fee_currency}} {{option_fee_amount}} (the “Option Fee”), the receipt and sufficiency of which is hereby acknowledged, Optionor hereby grants to Optionee the exclusive right and option to purchase the real property described below (the “Property”) under the terms and conditions set forth herein.

2. PROPERTY DESCRIPTION

The Property is located at {{property_address}} and is more particularly described as follows: {{legal_description_of_property}}. The Property includes all improvements thereon, appurtenances, and fixtures.

3. OPTION PERIOD

This option shall commence on {{start_date}} and shall expire on {{end_date}} at {{time}} (the “Option Period”). Time is of the essence.

4. PURCHASE PRICE

The purchase price for the Property shall be {{purchase_price_currency}} {{purchase_price_amount}} (the “Purchase Price”).

5. EXERCISE OF OPTION

Optionee may exercise this option by delivering written notice of exercise to Optionor at {{seller_address}} on or before the expiration of the Option Period. Upon exercise, the Option Fee shall be credited towards the Purchase Price unless otherwise agreed.

6. CLOSING

If the option is exercised, the closing of the sale shall take place on or before {{closing_date}} at a location mutually agreed upon by the parties. All costs associated with closing, including but not limited to legal fees, transfer taxes, and recording fees, shall be borne as follows: {{closing_cost_allocation}}.

7. DEFAULT

In the event Optionee fails to exercise this option within the Option Period or defaults on any other terms of this Agreement, Optionor shall retain the Option Fee as liquidated damages, and this Agreement shall terminate without further obligation on either party. In the event Optionor defaults, Optionee shall be entitled to {{remedies_for_seller_default}}.

8. GOVERNING LAW

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

9. ENTIRE AGREEMENT

This Agreement constitutes the entire agreement between the parties and supersedes all prior negotiations, understandings, and agreements, whether written or oral, relating to the subject matter hereof.

SIGNATURES

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above written.

_____________________________

Optionor (Seller) Signature:

Printed Name: {{seller_printed_name}}

_____________________________

Optionee (Buyer) Signature:

Printed Name: {{buyer_printed_name}}

_____________________________

Witness Signature:

Printed Name: {{witness_name}}

_____________________________

Witness Signature:

Printed Name: {{witness_name_2}}