The agreement provides that the abandonment of the option holder is indicated. It could involve the granting of a building permit, the granting of a licence, the outcome of an election or a geological report. This is a complete option agreement to buy real estate – land or buildings – in a straight “simple vanilla” agreement. The final sale price is not known in advance, but is calculated according to the event. The buyer of the option would like to try to .B. to get the building permit. The seller wants a fair price – he does not want the buyer to leave with too much of his “land” value. This option agreement builds on our model agreement by providing that the option holder will later extend the term of the option for a specified period, with an additional payment to the seller. Have you found a property you might want to buy? Then, our option to purchase the form will help you book it first and give you valuable time to consider. A conditional contract is an alternative to the use of an option agreement. An option allows the option holder (usually the potential buyer) to check whether the property is being sold. A conditional contract tends to favour the seller to the extent that he knows that he has sold only on the condition. This option to purchase contracts is taken between the following parties:_____and__________________________ The owner grants the buyer an option to purchase the following property:Street Address:___________________________________________________________________________Property Description:_________________________________________________________________________________________________________________________________________________________________________________________________________________________________The purchase price of the property is – In return for this option to purchase, the buyer must pay the owner a non-refundable fee equal to – if the buyer exercises this option, this tax is levied on the purchase price.
If the buyer does not exercise this option, this fee will be maintained by the owner. The concept of this option begins at AM/PM on and runs to the owner undertakes not to attempt to sell the property to another party as long as this option is in effect. To exercise this option, the buyer must send the owner a written notice on the exercise of the option before the option expires. When this option is exercised, the owner bears the following closing costs: ______________________________________________________________________________________________________________________________________________________and the buyer must bear the following acquisition costs: ______________________________________________________________________________________________________________________________________________________This option to purchase is mandatory for both parties, their representatives and the rightful owners. Owner`s name: _________________________Owner Signature: _________________________Date: _______________Buyer Name: _________________________Buyer Signature: _________________________Date: – Use this agreement if you want to save the sale or purchase of land at a predetermined price and date. The law simply says that an agreement must be to buy real estate: in writing; signed by both parties; dated; and must identify the land purchased. It is this last point that captures people when they establish real estate option agreements. Too often, limits, conservation rights and other issues are not defined in sufficient detail.