Contracts
An option contract in real estate gives the optionee (buyer) the:
AObligation to purchase the property within the option period
BRight, but not the obligation, to purchase the property at a set price within a specified time✓ Correct
CRight to list the property for sale on behalf of the owner
DObligation to lease the property for a minimum of one year
Explanation
An option contract grants the optionee the right, but not the obligation, to purchase a property at a predetermined price during the option period. The option consideration paid is typically non-refundable.
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