Contracts
An option contract in real estate gives the optionee the:
AObligation to purchase the property at the stated price
BRight but not the obligation to purchase the property within a specified time✓ Correct
CRight to list the property for sale
DRight to receive commission if the property sells
Explanation
An option contract gives the optionee (potential buyer) the right, but not the obligation, to purchase the property at a specified price within a specific period. The optionor (seller) is bound if the option is exercised.
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