Option To Purchase Real Estate Agreement

This Option Agreement is made on this Dayday of Month,Yearbetween Insert Optionor Company/Name, a Type of Company, hereinafter Optionor (Seller) and Insert Optionee Company/Name, a Type of Company hereinafter Optionee (Buyer).

The owner hereby grants the Buyer an option to purchase the following Property of theOptionor(s) and Optionee(s), is effective this Day of Month, Yearin consideration of and subject to the following terms and conditions.

  1. Property Address:Type Property Address
  2. Property Description:Type Property Legal Description
  3. Offer: Optionee has the option to purchase this property at $Type Amount
  4. Consideration: As consideration for this Option to purchase, the Buyer shall pay the Seller a non-refundable fee of $Type Amount. If the Buyer does not exercise this option, this fee shall be retained by the Seller.
  5. Period: The term of this option will begin at Insert TimeAM/PM on Insert Date and expire at Insert TimeAM/PM on Insert Date. The Seller agrees not to attempt the sale of the Property to any other party before the Option expires.
  1. Terms and Conditions:
  • Optionorunderstands that Optionees’s intention is to find an End- Buyer and assign this option agreement to that End-Buyer for a fee (paid by the End-Buyer).
  • Optionor understands that Optionee is acting as a principle in the transaction and is not working as a licensed real estate broker representing anyone in the transaction.
  • Upon Optionee’s decision to exercise this option, both parties agree to move forward with the necessary standard purchase and sales agreement.
  • Optionor may cancel this agreement at any time if they find their own End-Buyer or decide not to sell. This cancellation must be done in writing.
  • Optionor agrees to allow Optionee to advertise the property for sale.
  • If Optionee does not acquire an End-Buyer to assign this deal to within 14 days of acceptance of this Option Agreement, this agreement becomes null and void.
  • All parties agree that property is sold in “as is” present condition unless noted otherwise.
  1. Time is of the essence in this agreement.

6.Optionor Added Comments: Insert Comments

OPTIONEE: DATE:______

OPTIONOR :______DATE:______

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© 2014 by Gary and Maria Giordano

This document and the information in it are provided in confidence for the sole purpose of City Line Properties, LLC and may not be disclosed to any third party or used for any other purpose without the express written permission of City Line Properties, LLC.