Option to buy land and property

Standard
Recommended

Key features

This is a comprehensive option agreement to buy real property - land or buildings - in a straight forward deal with no "bells and whistles". The price is fixed. The exercise date is fixed. There is no scope for argument. Comprehensive sale contract is based on the usual commercial property conditions approved by the Real Estate Association.
Compliant
Compliant with the latest law in
  • AB
  • BC
  • MB
  • ON
  • SK
Document propertied
Document properties
  • Length:10 pages (2650 words)
  • Available in:
    MsWordMicrosoft Word DOCXApple pagesApple PagesRTFRTF
watertight guarantee
Backed by our watertight guarantee

If the document isn’t right for your circumstances for any reason, just tell us and we’ll refund you in full immediately.

writing in plain english
Written in plain English

We avoid legal terminology unless necessary. Plain English makes our documents easy to understand, easy to edit and more likely to be accepted.

Notes
Guidance notes included

You don’t need legal knowledge to use our documents. We explain what to edit and how in the guidance notes included at the end of the document.

email
Support from our legal team

Email us with questions about editing your document. Use our Lawyer Assist service if you’d like our legal team to check your document will do as you intend.

About this agreement

This is a straightforward "vanilla" option agreement to real property for a fixed price at a future date. There are no extensions or peripheral conditions, uplifts or other special features. The deal is simple.

However, this version provides a high level of legal protection. It creates a full contract for sale and purchase subject only to exercise of the option by the buyer. As many points of law and conveyancing matters are covered as is reasonably practical so as to minimise the chance of conflict.

If you are fearful that your buyer may be overwhelmed, then use a simple option agreement that contains fewer legal provisions.

When to use this option agreement

Using an option agreement to buy land or property for development allows a buyer to minimise risk, whilst at the same time providing the seller with a payment regardless of whether the buyer exercises the option. It can help incentivise a property owner to cooperate in securing the future event the buyer is seeking and, depending on the sale price agreed, let the buyer purchase at a discount to future market value.

You can use this agreement on any occasion when you need to await some event. It could be simply planning approval, or it could be resolution of a dispute, grant of a licence relevant to this land, or simply an offer of financing.

This agreement can be used for securing an option on any type of land, and with a view to buying the property for any reason.

These might include:

  • house building
  • redevelopment of light industrial units
  • refurbishment of offices

The document also includes an exercise letter template, which can be used by a buyer to exercise the option before the expiry date stated within the agreement.

Alternative templates

We have other agreements for non-standard deals. You can find our complete range of templates at: Property option agreements.

Option agreement application and features

  • Sets out a clear and logical pathway for exercise of the option
  • All variables are clear and in one place
  • Suitable for a variety of land types and situations
  • Includes an exercise letter template
  • User friendly: includes invaluable user notes to guide you through to successful execution

Agreement contents

  • Carefully and simply defined terms
  • Buyers warranties
  • Sellers warranties as to the current planning status of the land
  • The essence of the agreement
  • Confidentiality
  • Indemnity by the seller
  • A director’s guarantee, in case the seller is a company
  • Seller must not take actions which might prejudice the buyer’s work
  • What the buyer may do and must do
  • Assignment
  • Limitation of buyer liability
  • A separate notice letter to exercise the option
Sample option to buy land and propertyFront cover

Recent reviews

Great Service
24 December 2023
It seemed good. I wanted an option to purchase a flat contract and of the stuff I saw online it seemed the most straightforward. I changed "land" to "flat" in the contract. I don't know enough to know how good it is legally.
Timothy Spear
Review of the United Kingdom version
Concerns Allayed
12 June 2023
Fantastic service! My initial concern were whether the templates could be easily customised. I found the guide to editing legal documents very helpful and after editing to suit, its good to go. Thanks
Robert Ohayo
Review of the United Kingdom version
Would Recommend
06 September 2021
A well constructed document - easy to adapt to my specific terms. I will make Net Lawman my first point of call next time I need a draft legal document. Yes I would recommend this document and I feel confident that other documents will be as apt.
Dean Bennellick
Review of the United Kingdom version
Read all 8 reviews

Choose the level of support you need

Document only

Complete the document template yourself using our guidance notes
8 Reviews
C$49.00
Save with a membership
  • okComprehensive template covering legal and practical points
  • okDetailed guidance notes a step-by-step instructions to help you complete your document with confidence.
  • okUp to date with latest law our lawyers regularly review how new relevant law affects each document in our library
  • okWritten in plain English avoiding legal terminology unless necessary. plain English makes our documents easy to understand, easy to edit and more likely to be accepted
  • okSupport from our legal team email us with questions about editing your document
  • okMoney back guarantee that if the document isn't right
Most Popular

Lawyer Assist

Support from our legal team during and after editing
215 Reviews
C$399.00
Save up to 40% with a membership
  • okComprehensive template covering legal and practical points
  • okDetailed guidance notes a step-by-step instructions to help you complete your document with confidence.
  • okCustom workspace - get expert answers fast: a dedicated space for priority expert assistance, keeping you on track.
  • ok
    Review of your edited document by our legal team including:
    • understanding your requirements
    • checking that your document will achieve your goal
    • reporting on whether your changes comply with the law
    • answering your questions about how to word a new clause or achieve an outcome
    • checking that your use of defined terms is correct and consistent
    • correcting spelling mistakes
    • reformatting the document ready to sign
Membership plans

Standard

For occasional users of small businesses and start-ups
C$149.00 per year
no auto-renewal
Save on average C$400*
  • Allowed downloads from entire Library
    (average document price C$55)
    10
  • Lawyer Assist Service included
    (average price C$314)
  • Custom workspace - get expert answers fast
  • Discount on further Lawyer Assist
    30%
  • Priority email support
    ok

Professional

For larger businesses and professional service firms
C$299.00 per year
no auto-renewal
Save on average C$1080*
  • Allowed downloads from entire Library
    (average document price C$55)
    25
  • Lawyer Assist Service included
    (average price C$314)
  • Custom workspace - get expert answers fast
  • Discount on further Lawyer Assist
    40%
  • Priority email support
    ok

Professional Plus

For more frequent users of Lawyer Assist
C$699.00 per year
no auto-renewal
Save on average C$1300*
  • Allowed downloads from entire Library
    (average document price C$55)
    25
  • Lawyer Assist Service included
    (average price C$314)
    2
  • Custom workspace - get expert answers fast
    ok
  • Discount on further Lawyer Assist
    40%
  • Priority email support
    ok
* Calculated on the basis of average price.
© 1999 - 2025 Net Lawman Limited.
All rights reserved