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What is an Option?

An option is a type of contract that gives the buyer (optionee) the right, but not the obligation, to purchase a property at a specific price within a defined timeframe. The seller (optionor) receives a fee (option fee) for granting this right and is obligated to go along with the buyer's decision.


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Summer sun sparkling on the river's surface
Summer sun sparkling on the river's surface

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jone martin
jone martin
22. Apr.

The option term is used in real estate dealing. that gives the buyer the right, but not the obligation, to purchase a property at a specific price within a defined timeframe.


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