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Rainmaker
1,418,077
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

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.

Dec 07, 2016 02:13 PM
Ambassador
3,768,047
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Michael Setunsky has your answer!

Dec 08, 2016 09:32 PM
Rainmaker
3,709,793
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Michael Setunsky summed it up well. Nothing to add! A seller, in this market, would be crazy to do it!

Dec 08, 2016 06:25 AM
Rainmaker
3,566,012
Nina Hollander
Coldwell Banker Realty - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

what Michael Setunsky said.

Dec 08, 2016 04:17 AM
Rainmaker
5,004,860
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Abby,

Nothing to add to my colleagues brilliant answers and good luck to you.  A

Dec 07, 2016 07:45 PM
Rainmaker
3,992,622
Dorie Dillard CRS GRI ABR
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

You have received some excellent answers!

Dec 07, 2016 07:35 PM
Ambassador
3,985,488
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

It will lock in terms and price and for the buyer it is not a binding deal but it is on the seller.

Dec 07, 2016 06:25 PM
Rainmaker
1,316,192
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

They are not used out here (that I've seen).

Dec 07, 2016 02:47 PM
Rainmaker
1,101,683
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

You need to search all answered questions yourself. BTW: Some of the study questions are dated and unlikely to be asked on the test.

Jun 08, 2019 06:23 AM
Rainmaker
1,418,169
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good luck with your studies

 

May 27, 2019 02:07 PM
Ambassador
1,615,674
Harry F. D'Elia III
RentVest - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

People love options let's start negotiating

Dec 09, 2016 05:47 AM
Ambassador
1,706,758
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

One always needs options.

Dec 08, 2016 03:53 PM
Rainmaker
3,067,302
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Dorie Dillard  nailed tbis one!

Dec 08, 2016 05:20 AM
Rainmaker
1,507,472
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

They have an option a house to buy when their rent is over, if terms are still acceptable. 

Dec 08, 2016 12:03 AM
Rainmaker
1,157,329
FN LN
Toronto, ON

It depends on the specific situation.

Dec 07, 2016 11:37 PM
Ambassador
3,716,408
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

They aren't necessarily - it all depends on how the contract is written.

Dec 07, 2016 08:43 PM
Ambassador
2,491,688
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Tie up the property, while seeking someone to sell the paper to at a profit.

Dec 07, 2016 05:02 PM
Rainmaker
3,207,928
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

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

Dec 07, 2016 04:01 PM
Rainmaker
831,628
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

misread question.

Dec 07, 2016 01:54 PM
Rainmaker
3,573,101
Richard Weeks
Dallas, TX
REALTOR®, Broker

They give the buyer a legal way to terminate a contract, and that is a big advantage.

Dec 07, 2016 01:12 PM
Rainmaker
5,977,408
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Options give prospective purchasers time to complete any needed investigations.

Dec 07, 2016 12:31 PM
Rainmaker
4,432,971
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

What kind of option.

Dec 07, 2016 12:20 PM
Rainmaker
478,798
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

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.

Dec 07, 2016 11:22 AM