MAKE YOUR FREE Notice of Exercise of Option to Purchase
Other Names:
Notice of Exercise of Option to Purchase Real Estate
What is a Notice of Exercise of Option to Purchase?
You're a lucky tenant and your landlord offers you the chance to buy a property before it goes on the market. A Notice of Exercise of Option to Purchase lets you give the owner formal notice that you're ready to make a deal.
In a tough housing market, no landlord wants a rental property to sit empty for too long while the mortgage payments keep coming. Renting out your units while you try to get a fair offer makes sense. When a tenant comes along who seems like a potential buyer, putting a purchase option in the original lease might pay off for you. Once you put the offer on the table, your tenant can use a Notice of Exercise of Option to Purchase to take you up on it. If you're a tenant, you're under no obligation to purchase. But if you fall in love with the property and you're in a position to buy, you won't have to compete with other buyers to make it yours. Mail a Notice of Exercise of Option to Purchase to your landlord and start negotiating.
In a tough housing market, no landlord wants a rental property to sit empty for too long while the mortgage payments keep coming. Renting out your units while you try to get a fair offer makes sense. When a tenant comes along who seems like a potential buyer, putting a purchase option in the original lease might pay off for you. Once you put the offer on the table, your tenant can use a Notice of Exercise of Option to Purchase to take you up on it. If you're a tenant, you're under no obligation to purchase. But if you fall in love with the property and you're in a position to buy, you won't have to compete with other buyers to make it yours. Mail a Notice of Exercise of Option to Purchase to your landlord and start negotiating.
When to use a Notice of Exercise of Option to Purchase:
- You are currently leasing property and would like to proceed with purchasing this property from the Owner.
Sample Notice of Exercise of Option to Purchase
The terms in your document will update based on the information you provide
This document has been customized over 6K times
Ask a lawyer questions about your document
Notice of Exercise of Option to Purchase
,
Date:
,
| TO: |
I, , have leased real property from you described as follows:
, , which is legally described and known as
In accordance with the terms of our Lease Agreement executed on , I am exercising my option to purchase. According to my records, I have paid all rent due to the date of this notice. I have commenced the necessary steps to fund and purchase the property as set forth in our Lease Agreement. This is my formal Notice that I intend to purchase the leased property.
Sincerely,
