Business Option to Purchase

Identification of Parties

This Option to Purchase Commercial Property ("Agreement") is entered into between [YOUR NAME] of [YOUR COMPANY NAME] located at [YOUR COMPANY ADDRESS] ("Seller") and                                ("Buyer"), whose address shall be provided by the Buyer.

Description of Property

The commercial property being referred to in this Agreement ("Property") is accurately described as follows:

• Property Address:                                                                                               

• Legal Description:                                                                                               

• Parcel or Tax ID Number:                                                                                    

• Type of Commercial Property (e.g., office, retail, industrial):                           

• Current Use of Property:                                                                                      

Option Price

The Option Price for the Property is                               , payable by the Buyer to the Seller on the execution of this Agreement.

Exercise of Option

The procedure for the Buyer to exercise their option to purchase the Property is as follows:

1. Written notice must be served to the Seller by certified mail.

2. The notice must clearly state the Buyer's intention to purchase the Property.

3. The Buyer must provide proof of payment of the Option Price.

4. The notice must be received by the Seller on or before the expiration of the Option Period.

5. The exercise of the option will initiate the closing process, per the terms set forth below.

Option Period

The "Option Period" is defined as the period commencing upon execution of this Agreement and ending at 11:59 PM on                               .

Sale Price and Payment Terms

The Purchase Price for the Property, subject to adjustments at closing, is                               . Payment shall be made as follows:

1.                               at the execution of this Agreement;

2.                                on the day of the closing of the sale;

3. Remainder of                               to be paid as per the terms negotiated.

Closing

The closing process will be initiated after the Buyer has exercised their option to purchase the Property in accordance with this Agreement.

Miscellaneous Terms

The Seller and the Buyer agree to the following Miscellaneous Terms:

• The Seller guarantees they have full authority to sell the Property;

• The Buyer guarantees they have sufficient funds to purchase the Property;

• Both parties will be responsible for their own legal fees;

• This Agreement shall be governed by the laws of                               ;

• This Agreement may be executed in counterparts and faxed or scanned signatures shall be considered as original.

Signature

Seller: [YOUR NAME]

Date:                               

Buyer:                             

Date:                               

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