Whats An Option Agreement

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An Option Agreement is a legally binding contract where a person (Grantee) buys the right to purchase an Asset at some point in the future from the Grantor (owner). The Grantee has the right to either buy the Asset or let the option lapse. You choose how long the option is opened. The Option Fee can be $1 or $100 000 or whatever amount you wish – but you lose it if you subsequently don’t exercise the option. If you do exercise the option, you pay the Price within an agreed period.