This is a sample Option Agreement. An options contract is an agreement between two parties to facilitate a potential transaction involving an asset at a preset price and date. The form may be customized to suit your needs.
You bet! They’re becoming a popular tool for buyers and investors in Memphis, providing flexibility in a competitive market.
While it's not strictly necessary, having a lawyer can be a wise move. They can help ensure everything is crystal clear and protects your interests.
Absolutely! You can negotiate a renewal or extension if you're not quite ready to buy by the end of the initial agreement.
The duration of an option agreement can vary, but it's usually anywhere from a few months to a couple of years—enough time to see if the property is a good fit.