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Notice to exercise option to purchase

Notice to Lessor Exercising Option to Purchase - Louisiana 2026

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This document is a formal notice from the lessee to the lessor indicating the lessee's intention to exercise their option to purchase the leased premises as per their Lease Agreement. It includes details about the purchase price and any required down payment.

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Click ‘Get Form’ to open it in the editor.
Begin by entering the name and address of the Lessor in the designated fields at the top of the form.
Fill in the date of your Lease Agreement and specify the address of the premises you intend to purchase.
Indicate your intention to exercise the option to purchase by clearly stating it in the provided section.
Enter the purchase price as specified in your Lease Agreement or Option Agreement.
If applicable, include any down payment amount required by your agreement in the corresponding field.
Sign and date the document at the bottom, ensuring that you print your name clearly beneath your signature.

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What is a notice to exercise option to purchase?

This Standard Document is a written notice from the optionee to the optionor exercising the optionees option to purchase real estate in accordance with an option to purchase agreement.

What is an option exercise notice?

Exercise notice. A brokers notification from a client who wants to exercise a right to buy or sell (depending on the type of contract) the underlying security of the option contract.

What is the disadvantage of a lease option to buy?

Cons of lease options as a buyer Thus, you may be paying over market price for your rental as a tenant. Additionally, you stand to lose any money put toward the purchase price if you decide to pull out of the deal.

How to exercise an option to purchase real estate?

If youre a tenant, youre under no obligation to purchase. But if you fall in love with the property and youre in a position to buy, you wont 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.

Can I back out after exercising OTP?

Most OTPs do not allow the property seller to withdraw from the transaction once the OTP has been exercised without consequences. In contrast, the buyer typically has the option to back out, although this usually results in forfeiture of any option fee or deposit paid.