FinancingIntermediate
What Is Option to Purchase?
An option to purchase gives a tenant or buyer the exclusive right — but not the obligation — to buy a property at a set price within a specified time period, usually in exchange for a non-refundable option fee.
Most useful for: Repeat Buyer · Homeowner
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This definition is provided for general educational purposes and is not financial, legal, tax, or real estate advice. Verify important decisions with appropriately qualified professionals.
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