OPTION TO BUY AGREEMENT
This Option to Buy Agreement (the “Agreement”) is made and effective [DATE]
BETWEEN: [YOUR COMPANY NAME] (the "Owner"), a company organized and existing under the laws of the [State/Province] of [STATE/PROVINCE], with its head office located at:
[YOUR COMPLETE ADDRESS]
AND: [NAME] (the "Buyer"), an individual with his principal place of living located at:
[COMPLETE ADDRESS]
Buyer hereby pays to Owner the sum of $[AMOUNT] in consideration for this option, which option [SHALL OR SHALL NOT] be credited to the purchase price if option exercised.
Buyer has the option and the right to buy [DESCRIBE PROPERTY] during the option period for the full price of $[AMOUNT].
This option will remain in effect until [END DATE], and thereupon expire unless sooner exercised.
To exercise the option, Buyer must notify Owner of same by certified mail within the option period.
If Buyer exercises the option, then Buyer and Owner agree to sign the attached and completed contract of sale, and consummate the sale on its terms.
This option agreement shall be binding upon and inure to the benefit of the parties, their successors, assigns and personal representatives.
Signed under seal this [DAY] day of [MONTH] [YEAR].
In the presence of [WITNESS NAME]
[OCCUPATION]
[YOUR COMPANY NAME]
[BUYER NAME]
