Monthly Archives: July 2012

5. Evidence of Title

This section gets you title information and has the seller agreeing to provide you with a title insurance policy in the event you exercise your option. 6. Real Estate Purchase Contract This is the section that strengthens the option contract.

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Exercise of Option This is the section of the option contract that gives you and/or assigns the power to exercise your option. It also builds in a second and a third option period. All you need to do to exercise or extend your option is give or mail a written notice to the seller of your intention to exercise or extend the option.

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Seller Hereby Gives and Grants to Buyer and/or Assigns This is the place in the option contract where the owner becomes the seller, giving and granting to you, the buyer, and your assigns all the goodies. For a Period of____ Months from the Date Hereof This is where you get the 3, 6 , 9, 12 months, or more to control this property without having to buy it.

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Is the option fee in cash (we don’t recommend using cash for any consideration accompanying a contract), cashier’s check, personal check, or something else? The “or” is where we recommend you write in promissory note.

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