Difference Between Option And Purchase Agreement

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An option may allow you to ask the landowner to sell the relevant country. Unlike a conditional contract, this type of agreement is more flexible from the buyer`s point of view, as it gives you the opportunity to request a transfer of the land, depending on the project, but does not require you to do so. It will be to your advantage if you are no longer able to buy, or you simply change your mind. However, the option agreement will continue to force the owner to sell the land to you if you decide to exercise the option. An option contract is an agreement between a buyer and a seller that allows the buyer to subsequently buy or sell a given asset at a price agreed upon by both parties, the “exercise price”. .