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Option to Purchase

Free option to purchase agreement template — gives someone the right (not obligation) to buy something at a fixed price within a set period.

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This free option to purchase covers 1. Grant of Option, 2. Option Fee, 3. Exercise, 4. If Not Exercised, 5. During the Option Period with 11 clearly marked [placeholder] fields to fill in — built for landlords, tenants, and small property owners documenting a lease or tenancy change clearly, without guessing at the right structure. Copy it into your own word processor, fill in the placeholders, and review it — or adapt it — before use. It's part of docstoc's free document template library, alongside business, legal, real estate, finance, and HR templates. Every template here is free to copy with no signup required, and each one carries a plain disclaimer: this is a starting point for informational purposes, not a substitute for advice from a licensed professional in your jurisdiction.

Template — click to edit

Option to Purchase Agreement

Optionor (seller): [Name] Optionee (potential buyer): [Name] Property/Asset: [Description] Date: [Date]

1. Grant of Option

In exchange for [Option fee, e.g. $[Amount]], Optionor grants Optionee the exclusive right, but not the obligation, to purchase [Property/Asset] for [Purchase Price], at any time before [Expiration Date].

2. Option Fee

The option fee is [refundable/non-refundable]. [If applicable: "If Optionee exercises the option, the fee is credited toward the purchase price."]

3. Exercise

To exercise this option, Optionee must provide written notice to Optionor before the Expiration Date, along with [any required deposit].

4. If Not Exercised

If Optionee does not exercise the option by the Expiration Date, this Agreement terminates and Optionor keeps the option fee [if non-refundable] and is free to sell to anyone else.

5. During the Option Period

[State whether Optionor may market the property/asset to others during the option period, or must hold it exclusively.]

6. Governing Law

This Agreement is governed by the laws of [State/Country].

Optionor: ______________________ Date: ____________ Optionee: ______________________ Date: ____________

*This document is provided for informational and educational purposes only and does not constitute legal advice. For real property specifically, an option to purchase may need to be recorded to protect the optionee's rights against a subsequent buyer — confirm your state's requirements.*

Edit directly in the box above. Download PDF anytime — the docstoc.io footer is always included and cannot be removed.

What's included

Edit online — click the document, fill in placeholders, download a PDF
6 standard sections: 1. Grant of Option, 2. Option Fee, 3. Exercise, 4. If Not Exercised, 5. During the Option Period, 6. Governing Law
11 clearly marked [placeholder] fields for quick personalizing
Free to use — no account or signup required
Fully editable — adjust any clause to match your actual situation
Includes a signature block, ready to print or sign digitally
Fixed docstoc.io footer on every PDF (not removable)

Who this template is for

Freelancers & solo founders

Handling routine business paperwork without commissioning custom legal drafting for every document.

Small businesses

Standardizing recurring documents — leases, agreements, notices — across a growing operation.

Anyone reviewing before signing

Using a clear starting structure to understand what a document should cover, even if a lawyer finalizes it.

Independent landlords

Managing a rental directly, without a property management company's paperwork.

FAQ

Is this option to purchase template really free?

Yes, completely free — view, edit, and download this option to purchase as a PDF without creating an account.

What does this option to purchase cover?

This real estate template includes 1. Grant of Option, 2. Option Fee, 3. Exercise, 4. If Not Exercised. Fill in the [bracketed] placeholders, edit any clause online, then download a PDF — the docstoc.io footer stays on every export.

Is this legal advice?

No. Landlord-tenant law is one of the most locally-specific areas of law in the US — notice periods, required disclosures, and even what a lease is allowed to say vary by state and often by city. Check your local requirements (or a real estate attorney) before using this for an actual lease or notice.

Can I edit the wording?

Yes — edit directly on the page, adjust any section or clause, and re-fill the 11 placeholder fields to match your situation before downloading a PDF. It's a starting structure, not a rigid script.

Where can I find more free templates like this?

Browse more free real estate and related document templates in the docstoc library at /document-templates/.

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