Contracts
An option contract in Maryland gives the optionee the:
AObligation to purchase the property within the option period
BRight but not the obligation to purchase property within a specified time✓ Correct
CRight to list the property for sale
DFirst right of refusal on any future sale
Explanation
An option contract grants the optionee the right, but not the obligation, to purchase the property at a set price within the option period.
Related Maryland Contracts Questions
- In Maryland, a mortgage contingency that expires before the buyer obtains financing means the buyer:
- Under Maryland contract law, which of the following is a required element of a valid real estate contract?
- When a Maryland seller selects the 'disclaimer' option on the Residential Property Disclosure form, the buyer:
- In Maryland, a lease-purchase agreement differs from a lease-option in that:
- In Maryland, a broker cannot collect a commission from both buyer and seller in the same transaction unless:
- In Maryland, specific performance as a remedy in a real estate contract means:
- A Maryland buyer makes an offer but dies before the seller accepts. The offer is:
- In Maryland, an addendum to a purchase contract is typically used to:
Practice More Maryland Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Maryland Quiz →