Option to PurchaseTHIS AGREEMENT made this day of ___,
20__, between, , (collectively
referred to as Optionor), and , (collectively
referred
to as Optionee).
IN CONSIDERATION of the Optionee’s payment of
$__, the Optionor gives to Optionee the exclusive
option, right and privilege of purchasing certain in real
property located in the City of ___, County of ,
and State of __, described as:
[Insert legal description]
Prope rty Address: _____
This option is subject to the following terms and
conditions:
Optionor grants Optionee the exclusive right to
exercise this option for a period commencing on the
__day of __, and terminating at 1 1:59 p.m. on the
day of , 20 __.
The purchase price of the property will be $ ___.
Notice of election to Purchase shall be given by
Optionee in writing, and by first class mail, addressed to
Optionor, at:
_____.
The option consideration is for the sole purpose of
granting the Optionee the exclusive right to purchase the
subject property at the stated price and terms.
This option to purchase shall apply to and bind the heirs,
executors, and administrator of the respective parties.