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abby tiscareno Buyer's can put a hold on a property today and purchase it at a later day when it is advantageous to their needs. An option must have consideration and the buyer stands to lose these funds if they don't exercise the option. Without consideration, it is not an option.
Salt Lake City, UT
Debe Maxwell, CRS
Ryan Huggins - Thousan...
Thousand Oaks, CA
Michael Setunsky has your answer!
Michael Setunsky summed it up well. Nothing to add! A seller, in this market, would be crazy to do it!
what Michael Setunsky said.
Nothing to add to my colleagues brilliant answers and good luck to you. A
You have received some excellent answers!
It will lock in terms and price and for the buyer it is not a binding deal but it is on the seller.
They are not used out here (that I've seen).
You need to search all answered questions yourself. BTW: Some of the study questions are dated and unlikely to be asked on the test.
Good luck with your studies
People love options let's start negotiating
One always needs options.
Dorie Dillard nailed tbis one!
They have an option a house to buy when their rent is over, if terms are still acceptable.
It depends on the specific situation.
They aren't necessarily - it all depends on how the contract is written.
Tie up the property, while seeking someone to sell the paper to at a profit.
An option is like an opportunity to buy. However if the buyer has no ability to meet that option to actually buy, it can be a waste of time and money
They give the buyer a legal way to terminate a contract, and that is a big advantage.
Options give prospective purchasers time to complete any needed investigations.
What kind of option.
For a buyer, it enables them to lease a place with the option to purchase later on - typically at a price which was negotiated at the time the lease was put in effect. In an escalating real estate market, this can be great for a buyer to potentially purchase below market.