What is an option contract?

In real estate, an option contract involves two parties, the buyer and the seller, working as optionor and optionee. This type of unilateral contract is given because of some type of consideration, like an upfront payment, a previous rent-to-own contract, etc. 

With this kind of agreement, the buyer gains irrevocable and exclusive rights to purchase the property. All during a specific period of time in which the option is in function and effect.

Why an option contract? 

Grants you exclusive rights to buy the property.               

Gives you a lot of leeway to find the certain amount of resources you need.

The upfront payment to purchase the option is usually low.

Sellers love option contracts because it helps them to secure a safe ROI with very low risk involved.

Real estate is an extremely competitive industry, with a lot of moving parts going in and out, that’s when an option contract can help you secure that property you’ve been looking for so long, providing the perfect timing and freedom to act according to what’s needed.

Real Helpers has a team of experts with more than 50 years of combined experience, if you want to know more about this and other financial options, our specialists are ready to help. To start, just click the button down below!  

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