Contracts
An option contract in real estate gives the buyer the:
AObligation to purchase the property at a set price within a set time
BRight but not the obligation to purchase the property at a set price within a set time✓ Correct
CRight to list the property for sale
DRight to sublease the property
Explanation
An option contract gives the optionee (buyer) the right — but not the obligation — to purchase the property at an agreed price within a specified period. The seller (optionor) is bound to keep the offer open during that period.
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