Option to Purchase Package - Nevada: Fill out & sign online

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Click ‘Get Form’ to open the Option to Purchase Package in the editor.
Begin with the 'Option to Purchase Addendum to Residential Lease'. Fill in the lessor and lessee details, ensuring you specify the property address and lease term.
Next, complete the 'Residential Lease Agreement' by entering rental terms, including monthly rent and property usage restrictions.
For each option form (e.g., Residential Lot, Commercial Building), input relevant details such as sales price, option money, and any specific terms of agreement.
Review all entered information for accuracy. Utilize our platform's features to save your progress or make edits as needed before finalizing.

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How long can an option to purchase last?

An option-to-purchase contract must conspicuously state the duration of the option period. There is no correct or preferred unit of time and option periods can range from months to years. Typically, however, in the residential context, option periods range from one-to-five years.

What is an example of buying an option?

Example 1 - Buying a Call: In anticipation of this price increase Josh buys a call option on XYZ with a strike price of $120, and an expiration date 2 months out. This gives Josh the right, (but not the obligation) to buy 100 shares of XYZ for $120 per share before his call option expires worthless.

What is considered an option to purchase?

An option to purchase real estate is a contract by which an owner of real estate agrees with another person that the latter shall have the privilege of buying the property at a specified price within a specified time. However, no obligation to purchase is imposed upon the person to whom the option is given.