Contracts
An option contract in real estate gives the optionee the:
AObligation to purchase the property by a specific date
BRight but not the obligation to purchase the property within a specified time✓ Correct
CRight to list the property for sale
DFirst right to match any offer received by the seller
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 specified period. The optionor (seller) is bound but the optionee is not.
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