When the "option" is used, it officially "binds" both sides to the deal.
These are questions that the above text answers:
1. What is the purpose of a real estate option agreement?
2. How does an option agreement bind both parties involved in a real estate deal?
3. What does it mean for an option agreement to be "secured"?
4. What is the significance of using the term "option" in a real estate agreement?
5. How does an option agreement differ from other types of real estate agreements?
6. What happens when both parties are bound by an option agreement?
7. What is the effect of a secured option agreement on a real estate transaction?
8. What are the obligations of both parties in a real estate option agreement?
9. How does a real estate option agreement provide legal protection for both parties?
10. What are the benefits of using a real estate option agreement in a transaction?