Option To Buy Real Estate Agreement Templates

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The tenantbuyer as part of the consideration herein is hereby granted the exclusive right option and privilege of purchasing property at any time during the term of this leaseoption agreement or any extension thereof. The residential lease with an option to purchase agreement gives a tenant the right to purchase the property in accordance with the terms set in the agreementthe form must be written in accordance with all state landlord tenant lease laws in addition to following the states real estate commissions rules which typically require certain disclosures forms to be attached.

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Option to buy real estate agreement templates. Not all real estate purchase contracts involve an immediate sale. Option agreement for purchase of real property. Entitled to either sue for specific performance of the real estate purchase and sale contract or terminate such contract and sue for money damages.

If optionee timely exercises the option this agreement shall become a contract for the purchase of the property on the terms and conditions herein set forth. In the event that purchaser exercises the option to purchase this property within the initial option period or any extension thereof and is not in default in any other terms of this agreement said option money shall apply toward the purchase price at closing. Download samples of professional document drafts in word doc and excel xls format.

Instant access to 1900 business and legal forms. 4 option to purchase. If optionee fails to exercise the option on or before the last date for such exercise specified above the option and this agreement shall be null and void and of no further force or effect.

A execution by both parties. Simply fill in the blanks and print in minutes. This agreement shall not become effective and binding until fully executed by.

Something called an option contractessentially a contract not to revoke an offer once its madecan also be used to bring about the sale of real estate though on a much different schedule than usual.