Commercial Option Contracts
In many instances where two parties would like to strike a deal at a point in the future, an option contract can be a great way for both sides to enter into a deal without completely committing themselves if they are not ready. An option contract effectively gives the purchaser of real or personal property the ability to complete the deal if they so wish at a later date. Option contracts still require some kind of payment, but the purchaser is not required to fully commit to the deal if they do not want to.
We can either draft an option contract for you, add option terms to an already existing contract, or review an agreement drafted by another attorney. If you've negotiated a deal to buy real property or a business and think an option would work for you give us a call and we can talk about it in more details.