Everett Washington Option to Purchase Package

• Category: Washington Real Estate - Purchase Agreements
• State: Washington
• City: Everett
• Control #: WA-P069-PKG
• Format: Word; Rich Text

Description

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:

1. Option to Purchase Addendum to Residential Lease
2. Residential Lease Agreement
3. Option For the Sale and Purchase of Real Estate - Residential Lot or Land
4. Option For the Sale and Purchase of Real Estate - Residential Home
5. Option For the Sale and Purchase of Real Estate - Commercial Lot or Land
6. Option For the Sale and Purchase of Real Estate - Commercial Building
7. Option For the Sale and Purchase of Real Estate - Farm Land
8. Option For the Sale and Purchase of Real Estate - General Form

Detailed information on forms included:

1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.
7. 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.
8. 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.

Everett Washington Option to Purchase Package is a comprehensive legal agreement that provides individuals with the opportunity to secure a purchase option on a property located in Everett, Washington. This package is designed to outline the terms and conditions of the option to purchase, protecting the rights and interests of both the buyer and the seller. The Everett Washington Option to Purchase Package typically consists of several important documents, including but not limited to: 1. Option Agreement: This document is the core component of the package, outlining the terms and conditions under which the buyer has the right to purchase the property within a specified time frame. 2. Purchase Agreement: In case the buyer decides to exercise their option to purchase, this agreement details the terms of the actual property purchase, including the purchase price, any contingencies, and the closing process. 3. Property Disclosure Statement: This document ensures that the buyer is provided with all relevant information about the property, including its condition, any known defects, and any potential environmental hazards. 4. Lease Agreement: In certain cases, the package may also include a lease agreement if the buyer intends to lease the property for a specific period before completing the purchase. 5. Addendums: Additional documents may be included to address specific concerns or provisions related to the option to purchase, such as financing contingencies, inspection periods, or rights of first refusal. The Everett Washington Option to Purchase Package may vary depending on the specific circumstances or requirements of the buyer and seller. Different types of packages may cater to various property types, such as residential, commercial, or industrial properties. They may also differ in terms of the duration of the option, the purchase price, or any specific provisions outlined in the agreement. When considering an option to purchase a property in Everett, Washington, it is essential to consult with a qualified real estate attorney or professional who can guide you through the process, ensuring that all legal obligations and protections are properly addressed.