Get Option Agreement For The Sale And Purchase Of Real Estate

Filling out the Option Agreement for the Sale and Purchase of Real Estate online can be a straightforward process if you follow the steps outlined in this guide. This form is essential for establishing the terms under which a property can be purchased, and understanding each section will help you complete it accurately.

Follow the steps to successfully complete your agreement

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Enter the date on which the agreement is made in the space provided at the beginning of the document. This should include the day, month, and year.
3. Identify and fill in the names of the parties involved in the agreement. Use 'Seller' for the individual or entity selling the property and 'Purchaser' for the individual or entity purchasing the property.
4. In the grant of option section, provide the location of the property including the county and address. Attach an exhibit if required for additional descriptions.
5. Specify the deadline for exercising the option in the exercise of option section. Clearly state the date by which the Purchaser must notify the Seller of their intent to purchase.
6. Complete the default by purchaser section. Clarify what happens in case the Purchaser does not exercise the option or defaults after exercising it.
7. Provide details for the title section on how the Seller will provide a Certificate of Title, including any conditions that may apply.
8. Fill in the purchase price section with the agreed-upon amount and ensure to mention how the option money will affect the closing price.
9. Complete the extension section if the Purchaser intends to extend the option period. Indicate the new deadline and any additional payment required.
10. Populate the expenses of sale section with any applicable closing costs. Indicate who will be responsible for each cost and leave blanks for any that do not apply.
11. In the possession section, confirm that Purchaser will gain possession at closing.
12. Detail any additional rights of entry allowed for the Purchaser in the right of entry section.
13. Complete any sections regarding taxes, default, attorney's fees, and representations as applicable to ensure a thorough agreement.
14. Finalize the agreement by signing and dating the document in the spaces provided at the bottom. Ensure all parties have signed where indicated.
15. Once completed, save your changes, download a copy, print, or share the form as needed.

Begin filling out your Option Agreement for the Sale and Purchase of Real Estate online today for a smooth transaction process.