Posted by chet on January 12, 2005 at 24:09:33:
I have used the RE option form from Intuit’s personal or business atty s’ware.
To me, what you have drafted isn’t an option as tere is no consideration paid.
what not just make a “final contingency” in the Purchase and Sales Agreement that is 60 days out and seems to serves the same purpose.
Option paragraph ok? - Posted by able learner
Posted by able learner on January 11, 2005 at 15:21:31:
To tie up a property, I have used a standard Purchase and Sales agreement, with the following paragraph added:
Seller(s) grants buyer exclusive 60-day option to purchase property at said price and terms.
Does this protect me?
The title of the agreement is only "Standard Purchase and Sales Agreement? Should I add the words “and Option” to the title?
Someone else has graciously given the the paragraph they use for my own future use. But I need to know . . .does the paragraph I ACTUALLY used (above) protect me.
Able Learner