Contracts
An option contract in real estate gives the optionee the:
AObligation to purchase property at a set price
BRight but not the obligation to purchase property at a set price within a specified time✓ Correct
CRight to force the seller to lower the price
DObligation to list the property with a specific broker
Explanation
An option contract grants the optionee the right, but not the obligation, to purchase property at a predetermined price within a specified period. Consideration must be paid to make the option binding.
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