Contracts
An option contract in real estate gives the buyer the:
AObligation to purchase the property within the option period
BRight but not the obligation to purchase the property at an agreed price within a specified time✓ Correct
CRight to list the property for sale on the owner's behalf
DAbility to negotiate with multiple sellers simultaneously
Explanation
An option contract gives the holder (optionee) the right — but not the obligation — to purchase the property at a pre-agreed price within a specified time period. The seller (optionor) is obligated to sell if the buyer exercises the option.
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