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The option to purchase agreement, referred to as a simple marketing agreement, is crucial for gaining equitable interest in a property from a motivated seller. This contract allows you to market the property effectively. Key elements include identifying the motivated seller as the optionor and yourself as the optionee, providing the property's address, and specifying the date of signing. Typically, the option period lasts between 60 to 90 days from the signing date. It's important to keep a clear reference for the details and ensure accuracy when filling out the agreement, particularly regarding price placement. This document is essential for effective negotiation and marketing strategies.
