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- An option in real estate is a contract that gives the buyer the exclusive right to buy or sell a property for a specific price within a given time period12. The buyer pays for the option to secure this right, and the seller cannot sell the property to anyone else during the option period2. An option can be used to lock in a price, hedge against market fluctuations, or secure a future opportunity.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.
When it comes to real estate, option is the right of an individual or entity to sell or buy property for a specific price within a given time period.
www.realestateagent.com/real-estate-glossary/rea…A real estate purchase option is a contract on a specific piece of real estate that allows the buyer the exclusive right to purchase the property. Once a buyer has an option to buy a property, the seller cannot sell the property to anyone else. The buyer pays for the option to make this real estate purchase.
www.realtor.com/advice/buy/basics-of-real-estate-o… - People also ask
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