Real Estate Option Agreement

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Real Estate Option Agreement
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Real Estate Option Agreement

Real Estate Option Agreement

A contract giving a buyer the exclusive right to purchase a property within a specified timeframe.

423.30

(3 customer reviews)

Description

A Real Estate Option Agreement provides a buyer with the exclusive right (but not obligation) to purchase a property within a set timeframe at a predetermined price. This is commonly used in property development and investment scenarios. The buyer typically pays an option fee for this right. If the buyer chooses not to purchase, the seller retains the fee and can sell to others. This contract allows investors time to assess property value or secure financing while keeping the property off the market.