Option agreements on land can be used a number of ways in farm succession or consolidation of farm interests in cotenancy. INTRODUCTION: These guidelines are provided to assist Broker and attorneys who are completing the Offer to Purchase and.INTRODUCTION: These guidelines are provided to assist agents and attorneys who are completing the Offer to Purchase and. Options or obligations to purchase before or at the end of the contract term shall be provided. Third party financing is not used. INTRODUCTION: These guidelines are provided to assist Brokers and attorneys who are completing the Offer to Purchase and. Chris Barnette and Kandyce Ellis explain the latest OTP. Chapter 47G of the North Carolina General Statutes governs option to purchase contracts executed with residential lease agreements. A For Sale By Owner contract North Carolina must include: 1. The Purchase Price, 2.