JMChase Property Search’s Post

Here's a quick summary of April's contract activity.

𝗚𝗼𝘁 𝗮𝗻 𝗮𝗻𝘀𝘄𝗲𝗿? 𝗗𝗶𝘃𝗲 𝗶𝗻𝘁𝗼 𝘁𝗼𝗱𝗮𝘆'𝘀 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗗𝗮𝘆! Joe gave Stephen an option for the purchase of his property. In law, such an option is regarded as: A. an involuntary lien on the real property. B. a contract to keep the offer open. C. an offer to revoke a contract. D. an agreement identical with the vendee/vendor relationship under a land contract 𝗔𝗻𝘀𝘄𝗲𝗿: B. a contract to keep the offer open. 𝗘𝘅𝗽𝗹𝗮𝗻𝗮𝘁𝗶𝗼𝗻 A real estate purchase option is a contract on a specific piece of real estate that allows the buyer the exclusive right to purchase the property. Once a buyer (Stephen) has an option to buy a property, the seller (Joe) cannot sell the property to anyone else during the agreed-upon time period. An optionor can not rescind their offer to the optionee.

𝗚𝗼𝘁 𝗮𝗻 𝗮𝗻𝘀𝘄𝗲𝗿? 𝗗𝗶𝘃𝗲 𝗶𝗻𝘁𝗼 𝘁𝗼𝗱𝗮𝘆'𝘀 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗗𝗮𝘆! Joe gave Stephen an option for the purchase of his property. In law, such an option is regarded as: A. an involuntary lien on the real property. B. a contract to keep the offer open. C. an offer to revoke a contract. D. an agreement identical with the vendee/vendor relationship under a land contract 𝗔𝗻𝘀𝘄𝗲𝗿: B. a contract to keep the offer open. 𝗘𝘅𝗽𝗹𝗮𝗻𝗮𝘁𝗶𝗼𝗻 A real estate purchase option is a contract on a specific piece of real estate that allows the buyer the exclusive right to purchase the property. Once a buyer (Stephen) has an option to buy a property, the seller (Joe) cannot sell the property to anyone else during the agreed-upon time period. An optionor can not rescind their offer to the optionee.

𝗚𝗼𝘁 𝗮𝗻 𝗮𝗻𝘀𝘄𝗲𝗿? 𝗗𝗶𝘃𝗲 𝗶𝗻𝘁𝗼 𝘁𝗼𝗱𝗮𝘆'𝘀 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻 𝗼𝗳 𝘁𝗵𝗲 𝗗𝗮𝘆! Joe gave Stephen an option for the purchase of his property. In law, such an option is regarded as: A. an involuntary lien on the real property. B. a contract to keep the offer open. C. an offer to revoke a contract. D. an agreement identical with the vendee/vendor relationship under a land contract 𝗔𝗻𝘀𝘄𝗲𝗿: B. a contract to keep the offer open. 𝗘𝘅𝗽𝗹𝗮𝗻𝗮𝘁𝗶𝗼𝗻 A real estate purchase option is a contract on a specific piece of real estate that allows the buyer the exclusive right to purchase the property. Once a buyer (Stephen) has an option to buy a property, the seller (Joe) cannot sell the property to anyone else during the agreed-upon time period. An optionor can not rescind their offer to the optionee.

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