Cynthia loves her apartment and would like to have the option to buy it once her lease is up. Who is the best person to help Cyn

Question

2 years ago

15

thia prepare a lease option?

1 answer:

Volgvan · Answer 1 · 2023-04-24T01:41:29+03:00

A real estate attorney is the best person to help Cynthia prepare a lease option.

<h3>Who is the optionee in an option contract?</h3>

The seller is the optionor and the buyer is the optionee in an option contract.
It is a unilateral contract since the buyer has the option to purchase while the seller is required to sell.

<h3>What is an option to buy agreement?</h3>

An option-to-purchase agreement is a contract that grants a tenant or investor the opportunity to buy real estate in the future in exchange for a fee.

<h3>What does first option to buy mean?</h3>

When an owner intends to sell a property, this clause, also known as a right of first refusal or first right to purchase, compels the owner to provide the holder the first opportunity to purchase the property.
The holder cannot compel the owner to sell, unlike the option to purchase.

<h3>What is purchase option?</h3>

A purchase option is the freedom to buy, rent, or lease real estate or other property interests.

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