OPTION AGREEMENT FOR THE

PURCHASE OF REAL ESTATE

This Option Agreement (the “Agreement”) is between ____________________________

YOUR COMPANY NAME, LLC
____________________________________________________
c/o: its manager, YOUR NAME (“Buyer”), on the one hand, and
SELLER'S NAME
___________________________________________________________ (“Seller”) on the other.

WHEREAS, at some point in the future Buyer may desire to purchase a property whose
PROPERTY ADDRESS
address is _____________________________________________________________________,
and is more specifically described as: ________________________________________________
_____________________________________________________, or ☐ see attached “Exhibit A”
(the “Property”) , which is currently owned by Seller; and

WHEREAS, Buyer desires to preserve its right to purchase the Property in the future at a
fixed price set by the parties on today’s date by means of an option with a fixed expiration date;

THEREFORE, the parties hereby agree as follows:

1. Seller hereby agrees to sell Buyer an option to buy the Property with the following terms:

2. The option expires automatically without action by either party at _____

11:59 p.m. local time
to the Property on ___________________, 20___ (“Expiration Date”).

3. 10.00
The price of the option is $____________________________ (the “Option Fee”) paid by
check or other means acceptable to Seller.

4. The price at which the Buyer has the right to purchase the Property on or before the
expiration date is $____________________________
100,000.00 (“Strike Price”).

5. The Option Fee is being given in exchange for a valuable legal right (“The Option” or
“Option”), which legal right both parties hereby agree has a value of
$____________________________,
10.00 and which the parties agree constitutes fair and
adequate consideration. As such, the option fee is non-refundable. This fee is not a
down payment or a deposit for the purchase price of the Property. However, if Buyer
exercises the option to purchase before the Expiration Date, the Option Fee shall be
credited toward the purchase price.

6. To encourage the Buyer to expedite exercising the Option as quickly as possible, Seller
will agree to lower the Strike Price to $____________________________ if Buyer
exercises the Option by _____ p.m. local time to the Property on ___________________,
20___. If Buyer does not exercise its Option by that date, Buyer shall have until the
Expiration Date to exercise its Option for the original Strike Price.

____________ ____________
Seller Initials Buyer Initials

Page 1 of 8
7. The Buyer has the right, but not the obligation, to purchase the Property at the Strike
Price before the Expiration Date.

8. No oral modifications of this agreement are allowed. Any modifications must be in

writing and signed by both parties.

9. Seller’s Obligations: Should Buyer choose to exercise its Option, Seller shall be
obligated to deliver title to the Property free and clear of all liens and encumbrances at
the closing unless Buyer is purchasing the Property subject-to an existing mortgage or
deed of trust staying in place.

10. Buyer’s Obligations: On or before the Expiration Date, Buyer is required to notify Seller
of its intent to exercise The Option by submitting a signed purchase contract in an
amount equal to or above the Strike Price for the seller’s signature, and by submitting the
100.00
fully executed purchase contract with a minimum of $____________________________
earnest money to a title company or attorney licensed to do business in the State of
PROPERTY'S STATE
_____________________________ within three (3) business days of the purchase
contract being executed. Buyer must close on the purchase contract on or before the
Closing Date on the purchase contract, or obtain an extension of the Closing Date.

11. Time is of the essence of this Agreement. Any reference in the Agreement to time periods
of less than six (6) days shall in the computation thereof, exclude Saturdays, Sundays and
legal holidays, and any time period provided for herein which shall end on a Saturday,
Sunday or legal holiday shall extend to 5:00 p.m. of the next business day. “Business
Day” is defined Monday through Friday, except for federal or state holidays.

12. _______________ (SELLER INITIALS) Seller acknowledges that Buyer 𝥁 is 𝥁 is not an

𝥁 active 𝥁 inactive real estate 𝥁 agent, 𝥁 broker, and/or 𝥁 attorney (CHECK ALL THAT
PROPERTY'S STATE
APPLY) in the State of ______________________________, but does not represent
Seller’s interest in any way, shape, or form, and has not given Seller any advice.

13. Buyer and Seller may cause to be recorded, at Buyer's option and expense, in the public
records of the county in which the property is located, this Agreement, a notarized and
Seller-executed Affidavit of Option Agreement For The Purchase Of Real Estate, or any
other similar notice of interest document acceptable to the county recorder’s office. This
Agreement shall bind and inure to the benefit of the Parties hereto and their successors in
interest.

14. Right To Market: Seller hereby grants to Buyer the right to perform the following on or
with this Agreement and/or the Property prior to the Expiration Date for Buyer’s benefit:

a. At Buyer’s request, Seller will agree to sign a listing agreement with a licensed
real estate broker chosen by Buyer to list the Property for sale and/or lease in
Multiple Listing Services (commonly referred to as the “MLS”), solely for
Buyer’s benefit. This is so Buyer can procure an end-buyer or tenant prior to
exercising The Option and converting this Agreement into a purchase contract.

____________ ____________
Seller Initials Buyer Initials

Page 2 of 8
 b. Market and advertise this Agreement and/or the Property, solely for Buyer’s
benefit, in any media of Buyer’s choosing including on the internet, in
cooperation with licensed real estate brokers, investors, and affiliated licensees in
an attempt to procure an end-buyer or tenant prior to exercising The Option and
converting this Agreement into a purchase contract.

c. “Marketing and advertising” is defined as, but not limited to, placing this
Agreement and/or the Property for sale or lease in multiple listing services, in
newspapers or other periodicals, advertising on television, radio, in online
websites, forums, and social media outlets, placing signs in and around the
neighborhood advertising this Agreement and/or the Property for sale or lease
with basic information about the Property (such as number of bedrooms,
bathrooms, estimated value of the Property, the Strike Price on this Agreement,
Buyer’s asking price for the Agreement, etc.), and placing a “for sale” and/or “for
rent” sign on the Property.

15. 𝥁 (CHECK IF APPLICABLE) Access to Property and Key Box Hold Harmless Agreement:

a. From the Effective Date of this Agreement through the Expiration Date, Seller shall
provide Buyer with a key to the Property, grants access to the Property to Buyer
with reasonable notice to Seller, grants permission to Buyer to place a key box on
the Property, grants permission to Buyer to duplicate keys to facilitate convenient
and efficient showings of the Property prior to the Expiration Date, and will make
the Property reasonably available to Buyer and to Buyer’s assignees, prospective
assignees and third-party purchasers or lessees, agents, representatives, inspectors,
and any other Buyer-authorized individuals to conduct walkthrough(s) of the
Property.

b. Seller acknowledges that authorizing various parties to have access to the Property
may be necessary at times, and that authorizing access means giving permission to
another person to enter the Property, disclosing to the other person any security
codes necessary to enter the Property, and lending a key to the other person to enter
the Property, directly or through a key box.

c. When authorizing access to the Property, Seller acknowledges and agrees that Seller
shall not hold any real estate brokers and their associates responsible for personal
injury or property loss to Seller or any other person, and Seller agrees to assume all
risk of any loss, damage, or injury associated with said parties accessing the
Property. Except for a loss caused by Buyer, Seller agrees to indemnify and hold
Buyer harmless from any claim for personal injury, property damage, or other loss.

16. Seller to Keep and Maintain Insurance and Utility Service: Seller, at Seller’s expense, shall
immediately cause existing utilities to be turned on and shall keep the utilities on until the
Expiration Date to allow Buyer to conduct Buyer’s inspections and walkthroughs. Seller

____________ ____________
Seller Initials Buyer Initials

Page 3 of 8
 shall also, at Seller’s expense, maintain insurance on the Property until Buyer has closed on
the purchase of the Property.

17. Seller warrants and represents that there are no legal actions, suits or other legal or
administrative proceedings, including cases, pending or threatened or similar proceedings
affecting the Property or any portion thereof, and Seller does not have any knowledge that
any such action is presently contemplated which might or does affect the Agreement
contemplated hereunder, or future conveyance of the Property to Buyer.

18. Seller is of sound mind and is able to make rational decisions, and is not under the undue
influence of alcohol, drugs, or prescription medication.

19. Seller has agreed to sell Buyer an Option to purchase the Property only because it is in
Seller’s best interest after considering all of the factors. Seller understands what he / she
is signing and has had all of his / her questions answered. Seller is, therefore, not
confused.

20. Seller is not under duress and has agreed to sell Buyer an Option to purchase the Property
freely and willingly.

21. Seller understands that he / she is selling Buyer an Option to purchase the Property at a
potential discount of future market value because of his / her situation and / or because of
the condition of the Property, and because the Buyer may incur a certain amount of costs
and expenses in restoring the Property to its full potential.

22. In connection with any litigation including appellate proceedings arising out of this
Agreement, the prevailing party shall be entitled to recover reasonable attorney's fees and
costs from the other party.

23. Buyer and Seller are each relying solely and exclusively on their own due diligence in
signing this Agreement.

24. If any clause in this Agreement is found to be invalid or unenforceable by a court of law,
the remainder of this Agreement will not be affected and all other provisions of this
Agreement will remain valid and enforceable.

25. Waiver of any provision in this Agreement by any party is effective only if the waiver is
in writing. A waiver, whether in writing or otherwise, may not be construed as a waiver
of any subsequent breach or failure of the same provision or any other provision of this
Agreement.

26. Buyer, at Buyer’s sole discretion, may assign or novate this Agreement to another person
or entity for a fee. Seller acknowledges and accepts that Buyer may make a HUGE
PROFIT upon assigning or novating this Agreement. All profits made by Buyer arising
out of this transaction are the sole interest of and solely owned by the Buyer.

____________ ____________
Seller Initials Buyer Initials

Page 4 of 8
27. So long as the term of The Option has not expired, Seller may not encumber, sell,
convey, or transfer any ownership interest in the Property, nor may Seller market the
Property for sale, conveyance, or transfer of ownership. Seller shall maintain current
balances with all lienholders, including but not limited to tax assessor collectors,
homeowners associations, and mortgage companies or servicers with liens secured by the
Property.

28. Seller acknowledges that all payments are current and in good standing with any
mortgage company or loan servicer, any tax assessor collector, or homeowners
association, and agrees to make all payments to said mortgage company, tax assessor-
collector, or homeowners’ association during the term of this Agreement in a timely
manner, and keep any liens or mortgages that are secured by the Property current and in
good standing. Seller agrees to provide documentation of mortgage payments, tax and
homeowners’ association payments at the request of the Buyer.

29. Seller agrees to make timely payments on any property taxes, homeowners association
fees, and any underlying loans secured by the Property, and upon Buyer's request, give
monthly statements to the Buyer reflecting the amount paid to any lienholder / tax
assessor collector / homeowners association, and the date the lienholder / tax assessor
collector / homeowners association receives the payment. Upon Buyer’s request, Seller
has provided or will provide to Buyer the name, address, and phone number of all
lienholders / tax assessor collectors / homeowners associations or servicers of such liens,
and a signed Authorization To Release Information form authorizing each lienholder / tax
assessor collector / homeowners association or servicer to communicate with Buyer, and
to release any requested information to the Buyer.

30. Seller, not later than the third (3rd) day the Seller receives or has actual knowledge of a
document or an event described below, to notify the Buyer in writing that Seller has been
sent a notice of default, notice of acceleration, or notice of foreclosure or has been sued in
connection with a lien or mortgage on the property and to attach a copy of all related
documents received to the written notice. If Seller does not make timely payments on the
loan(s) or any other indebtedness secured by the Property, the Buyer may, without notice,
cure any deficiency with a lienholder / tax assessor collector / homeowners association /
mortgage company / servicer directly, and deduct from the Strike Price owed by the
Buyer to Seller under this Agreement, without the necessity of judicial action.

31. Seller has had the opportunity to consult an attorney before signing this Agreement.

32. SPECIAL PROVISIONS:

If Buyer assigns or novates this Contract, or a purchase and sale agreement upon Buyer
exercising the Option, to a third party purchaser then Buyer and Seller agree to evenly split
any remaining net proceeds above and beyond at least a $XXX,XXX.00 Net Sale Price to
said third party purchaser. "Net Sale Price" is herein defined as the Offer Price from a
third party purchaser, minus any repairs or closing cost concessions negotiated with the
third-party purchaser. This clause shall become null and void if the Net Sale Price to a
third party purchaser is less than a Base Net Sale Price of $XXX,XXX.00.

____________ ____________
Seller Initials Buyer Initials

Page 5 of 8
33. All communication to Buyer shall be to the following address, phone number and email.
YOUR NAME, manager at YOUR ADDRESS
________________________________________________________________________
________________________________________________________________________
YOUR EMAIL
________________________________________________________________________
YOUR CELL PHONE #

34. All communications to Seller shall be to the following address, phone number and email.
________________________________________________________________________
SELLER'S NAME, at SELLER'S ADDRESS
________________________________________________________________________
SELLER'S EMAIL
________________________________________________________________________
SELLER'S CELL PHONE #

35. The parties agree that neither party has made any verbal or written representations to the
other outside of the four corners of this agreement, and that neither party is relying on
any verbal or written representations outside the four corners of this agreement.

36. This Agreement contains the entire agreement of the parties. All previous and
simultaneous agreements, discussions, and negotiations, whether verbal or in writing, are
hereby merged into and extinguished by this agreement.

37. All signing parties below hereby acknowledge and warrant that they are the authorized
representatives of their respective companies and that they are duly authorized to sign
this Agreement.

38. All disputes arising out of or related to this Agreement shall be submitted to binding
arbitration exclusively in _____________________________
YOUR COUNTY County, in the State of
_____________________________
YOUR STATE according to the rules of the American Arbitration
Association.

39. PROPERTY'S STATE

All parties agree that only the laws of the State of ______________________________
shall apply to this Agreement, and that litigation, if any, shall be filed exclusively in the
state or federal courts in _____________________________County,
PROPERTY'S COUNTY in the State of
PROPERTY'S STATE
______________________________.

40. This Agreement becomes effective on the date of the payment of the
$____________________________
10.00 Option Fee and upon signatures of all the parties
(“Effective Date”).

41. 𝥁 (CHECK IF SPANISH SPEAKER) Soy un hablante de español. He tenido la

oportunidad de traducir este contrato al español y consultar con un abogado, y entiendo
cada palabra de este contrato. Entiendo completamente lo que estoy firmando y tengo la
intención de cumplir este contrato con mi firma.

HEREBY UNDERSTOOD, AGREED TO, AND EXECUTED ON THIS ________

DAY OF _____________________, 20_______, AS FOLLOWS BY:

[ Signatures On Following Page ]

____________ ____________
Seller Initials Buyer Initials

Page 6 of 8
SELLER:

By: _________________________________________ (Signature)

Name: ______________________________________ (“Seller”)

Date: _______________________________________

SELLER:

By: _________________________________________ (Signature)

Name: ______________________________________ (“Seller”)

Date: _______________________________________

BUYER:

By: _________________________________________ (Signature)

YOUR NAME, manager of

Name: ______________________________________ (“Buyer”)
YOUR COMPANY NAME, LLC; and/or assigns
Date: _______________________________________

BUYER:

By: _________________________________________ (Signature)

Name: ______________________________________ (“Buyer”)

Date: _______________________________________

OPTION FEE RECEIPT

Receipt of $____________________________
10.00 (Option Fee) in the form of:

_________________________________________________
Payment made electronically via Zelle / Venmo / PayPal is hereby acknowledged.

____________
By: __________________________________________ ____________
_______________________
Seller Initials Buyer Initials
Date
Name: _______________________________________
SELLER'S NAME
PageONE)
𝥁 Seller / 𝥁 Seller’s Agent (CHECK ONLY 7 of 10
 EXHIBIT A

Legal Description of the Property for the

Option Agreement For the Purchase Of Real Estate

____________ ____________
Seller Initials Buyer Initials

Page 8 of 8
 SELLER AGREEMENT SHEET
Property Address: ____________________________________________________________________
PROPERTY ADDRESS

Seller Name: _________________________________________________________________________

SELLER'S NAME

Buyer Name: _________________________________________________________________________

YOUR COMPANY NAME LLC; c/o its manager, YOUR NAME

☐ Yes ☐ No -- I, Seller, agree to provide access for inspections and showings.

☐ Yes ☐ No -- I, Seller, agree to the Seller’s Estimated Net Proceeds below.

☐ Yes ☐ No -- I, Seller, agree that Buyer may cash out me early, and hold the property deed in
escrow.

☐ Yes ☐ No -- I, Seller, will clean out the property, leaving it in “broom swept” condition inside and
all movable debris removed from the interior and exterior of the property.
☐ Yes ☐ No -- I, Seller, will use Buyer’s “Leave Behind Program” for unwanted personal property,
debris, etc. Buyer has my permission to either keep or dispose of anything left behind at the property, as
Buyer sees fit, and I hereby hold Buyer harmless for anything that is disposed of.
☐ Yes ☐ No -- I, Seller, agree to the following move / clean out date: _____________________

☐ Yes ☐ No -- I, Seller, agree to conduct both a written and video testimonial in exchange for the
sum of $100. to be credited to me by Buyer at settlement. I understand that both the written and video
00

testimonials must be received by Buyer prior to settlement in order for me to qualify for the credit.

Seller’s Estimated Net Proceeds

100,000.00
______________________________ Purchase Price

- ______________________________
$ 50,000.00 Mortgage + Any Other Liens Tied To The Property

- ______________________________
$ 0.00 Transfer / Excise Tax

- ______________________________
$ 1,500.00 Prorated Property Taxes & Other Assessments

- ______________________________
$ 0.00 Title Release Processing Fee

- ______________________________
$ 0.00 Clean Out Of The Property

- ______________________________
$ 0.00 OTHER: _______________________________________

+ ______________________________
$ 100.00 Credit For Written & Video Testimonials

= ______________________________
$ 48,600.00 Seller’s Estimated Net Proceeds

_____________________________________________________________________________________
Seller Signature Date
 AUTHORIZATION TO RELEASE INFORMATION
CONCERNING THE PROPERTY AT

PROPERTY ADDRESS

(Address of Property)

Legal Description of the Property: ________________________________________________________

_____________________________________________ or ☐ see attached “Exhibit A” (the “Property”).

OWNER’S AUTHORIZATION TO RELEASE INFORMATION:

I/We, _______________________________________________________________________________
SELLER'S NAME

______________________________________________________ (Collectively the “Property Owner”)

are the owner of: _____________________________________________________________________

PROPERTY ADDRESS

____________________________________________________________ (hereinafter the “Property”),

and I/we hereby authorize:

____________________________________________________________________________________
YOUR COMPANY NAME, LLC c/o: its manager, YOUR NAME

____________________________________________________________________________________
and any associate of Atlas Transaction Coordination Services, LLC; c/o: its manager Casey Smith

____________________________________________________________________________________
(Collectively the “Inquiring Party”) and any of its shareholders, trustees, members, managers, officers,
directors, employees, or agents to discuss my account with your company (including but not limited to
any and all information that may be requested by the Inquiring Party regarding liens, judgements, debts,
late charges, penalties, fees, reinstatement information, monthly statements, and any related documents
that they may require for a loan balance, payoff, credit transaction, loan transfer, or loan inquiry, as well
as information related to this Property, insurance, and home owners association, if applicable). You also
have my permission to speak to them on the phone or via email and/or fax, and answer any and all of
their questions. You may reproduce this document to acquire reference from more than one source.

AUTHORIZED PARTIES CAN BE REACHED AT:

____________________________________________________________________________________
YOUR NAME - email: YOUR EMAIL | phone: (XXX) XXX-XXXX | address: YOUR ADDRESS

____________________________________________________________________________________

____________________________________________________________________________________
Atlas TC Services - email: team@atlastcservices.com | office: (855) 929-5056 | fax: (469) 716-4188

Page 1 of 5
 LOAN / LIEN INFORMATION:

Loan #1 / Lien Number: ________________________________________________________________

Which is currently being serviced by: ______________________________________________________

____________________________________________________________________________________

Whose contact information is as follows:

Mailing Address(es): __________________________________________________________________

____________________________________________________________________________________

____________________________________________________________________________________

Phone Number(s): ____________________________________________________________________

Fax Number(s): ______________________________________________________________________

Website(s): __________________________________________________________________________

____________________________________________________________________________________

Loan #2 / Lien Number: ________________________________________________________________

Which is currently being serviced by: ______________________________________________________

____________________________________________________________________________________

Whose contact information is as follows:

Mailing Address(es): __________________________________________________________________

____________________________________________________________________________________

____________________________________________________________________________________

Phone Number(s): ____________________________________________________________________

Fax Number(s): ______________________________________________________________________

Website(s): __________________________________________________________________________

____________________________________________________________________________________

Page 2 of 5
 HOME OWNERS ASSOCIATION INFORMATION (hereinafter “H.O.A.”):

H.O.A. Name: _______________________________________________________________________

H.O.A. Account #: ____________________________________________________________________

Which is currently being serviced by: ______________________________________________________

____________________________________________________________________________________

Whose contact information is as follows:

Mailing Address(es): __________________________________________________________________

____________________________________________________________________________________

____________________________________________________________________________________

Phone Number(s): ____________________________________________________________________

Fax Number(s): ______________________________________________________________________

Website(s): __________________________________________________________________________

____________________________________________________________________________________

[ Signature Page Follows ]

Page 3 of 5
Please do not hesitate to contact me to verify my authorization prior to releasing this information to the
Inquiring Party.

___________________________________________________________________________________
Property Owner’s Signature Date

___________________________________________________________________________________
Property Owner’s Name (Print)

___________________________________________________________________________________
Last 4 Digits of Property Owner’s Social Security Number

___________________________________________________________________________________
Property Owner’s Date Of Birth

___________________________________________________________________________________
Property Owner’s Driver’s License Number (including state issued)

___________________________________________________________________________________
Property Owner’s Mailing Address

___________________________________________________________________________________
Property Owner’s Phone Number and Email Address

___________________________________________________________________________________
Property Owner’s Signature Date

___________________________________________________________________________________
Property Owner’s Name (Print)

___________________________________________________________________________________
Last 4 Digits of Property Owner’s Social Security Number

___________________________________________________________________________________
Property Owner’s Date Of Birth

___________________________________________________________________________________
Property Owner’s Driver’s License Number (including state issued)

___________________________________________________________________________________
Property Owner’s Mailing Address

___________________________________________________________________________________
Property Owner’s Phone Number and Email Address

Page 4 of 5
 EXHIBIT A

Legal Description of the Property for the

Authorization To Release Information Form

Page 5 of 5