With this Option to Purchase Package, you will find the forms that are necessary to exercise a right to purchase property or require another to perform upon agreed-upon terms. In an option agreement, a party purchases the right for a certain time, by election, to purchase property at a stated price.
Included in your package are the following forms:
- Option to Purchase Addendum to Residential Lease
- Residential Lease Agreement
- Option For the Sale and Purchase of Real Estate - Residential Lot or Land
- Option For the Sale and Purchase of Real Estate - Residential Home
- Option For the Sale and Purchase of Real Estate - Commercial Lot or Land
- Option For the Sale and Purchase of Real Estate - Commercial Building
- Option For the Sale and Purchase of Real Estate - Farm Land
- Option For the Sale and Purchase of Real Estate - General Form
Detailed information on forms included:
- Option to Purchase Addendum to Residential Lease - This Option to Purchase Addendum to Residential and Lease Agreement is entered into by and between the lessor and the lessee. The lessor agrees not to offer the residence for sale to anyone during the term of the lease, and to give the lessee (tenant) the option to purchase the residence at any time prior to the expiration of the lease, provided the lessee gives notice of intent to purchase in accordance with the provisions of the Addendum. At that point, a separate contract of sale will be executed and the sale will proceed as any sale would.
- Residential Lease Agreement and Option to Purchase - This Residential Lease Agreement and Option to Purchase is entered into by and between the lessor and the lessee. This agreement provides that the lessor will rent to the lessee a personal residence located at the address listed in the agreement. The lessee is responsible for paying rent on a monthly basis and the premises must be used as a private dwelling and for no other purpose.
- Option For the Sale and Purchase of Real Estate - Residential Lot or Land - This form is for an option to purchase a residential real estate lot or tract of land. It provides for the payment of option money and the procedures for exercise of the option.
- Option For the Sale and Purchase of Real Estate - Residential Home - This form is for an option to purchase a residential home. It provides for the payment of option money, sales price, and all terms of the agreement.
- Option For the Sale and Purchase of Real Estate - Commercial Lot or Land - This form is for an option to purchase a commercial lot or land. It contains provisions for the payment of option money and other terms of the transaction.
- Option For the Sale and Purchase of Real Estate - Commercial Building - This form provides a buyer with an exclusive and irrevocable option to purchase residential real estate, specifically a commercial building.
- Option For the Sale and Purchase of Real Estate - Farm Land - This form is for an option to purchase farm land and includes all terms of the transaction.
- Option For the Sale and Purchase of Real Estate - General Form - This form is adaptable for general use as an agreement to purchase an option on real estate. Provisions for all relevant details are included to be adapted for use in a particular transaction.
The Maricopa Arizona Option to Purchase Package is a comprehensive and legally-binding agreement that outlines the terms and conditions for the purchase of a property in Maricopa, Arizona. This package provides a valuable solution for individuals or businesses who want to secure a property for future ownership but are not ready to complete the purchase at the present moment. The Maricopa Arizona Option to Purchase Package offers prospective buyers the flexibility and opportunity to lock in a property's purchase price while allowing them time to arrange financing or conduct due diligence. This package serves as a contractual agreement between the buyer and the seller, ensuring that both parties are protected and have a clear understanding of their rights and obligations. Within the Maricopa Arizona Option to Purchase Package, there are various types available to cater to different buyer needs. These options include: 1. Residential Option to Purchase: This package is designed for individuals or families looking to purchase a residential property in Maricopa, Arizona. It covers all the necessary details for acquiring a house, such as price, payment terms, and conditions for any inspections or repairs. 2. Commercial Option to Purchase: Ideal for businesses or investors, this package enables the acquisition of commercial properties in Maricopa, Arizona. It includes specific clauses related to zoning regulations, lease agreements, or any other commercial considerations. 3. Agricultural Option to Purchase: Geared towards those interested in acquiring agricultural land or farms in Maricopa, Arizona, this package addresses specific aspects related to irrigation rights, farming equipment, or any other farming-related provisions. 4. Vacant Land Option to Purchase: This package focuses on purchasing undeveloped land or lots in Maricopa, Arizona. It covers essential details such as legal descriptions, land boundaries, and any restrictions or easements. Regardless of the chosen type, the Maricopa Arizona Option to Purchase Package offers a comprehensible and enforceable contract, protecting both parties involved in the transaction. It is strongly advised to seek legal counsel when engaging in an option agreement to ensure compliance with Arizona state laws and safeguard the best interests of all parties involved.
