What is a real estate option contract?

Answer A real estate option contract is an agreement in which a seller makes and keeps open an offer to sell a piece of real estate to a particular buyer. This contract is set for a fixed price and time p... Read More »

Top Q&A For: What is a real estate option contract

What is an option fee in a real estate contract?

One of the most important steps that home buyers should take when they purchase a home is paying the option fee. As part of a real estate contract, the option fee clause will protect home buyers in... Read More »

What Is the Option Period on a Real Estate Contract?

Texas and, less commonly, other states, allow a sale option period during which a buyer may cancel a sale for any reason without risking his earnest deposit. This type of option period is similar t... Read More »

What is a real estate contract?

A real estate contract is a written agreement to purchase, sale or exchange real estate between parties. This contract is legally binding based on the conditions stated in the agreement.ComponentsA... Read More »

What is a contingency contract in real estate?

A contingency contract in real estate is essentially a clause within the document that enables the buyer to effectively cancel his obligation to move forward in the transaction. While the contingen... Read More »