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In a real estate context, an option fee is money paid by a buyer to a seller for the option to terminate a real estate contract. Option fee funds should not be confused with earnest money . The use of option fees is most common in the residential resale market in Texas.
What does pending mean? When an offer on a home has been accepted and is now under contract, it’s listed as “pending.” In other words, Lingscheit shares, if a home is pending it has “an ...
It is a shortened name for a lease with option to purchase contract. For real estate, a lease purchase contract combines elements of a traditional rental agreement with an exclusive right of first refusal option for later purchase of the home.
An option contract, or simply option, is defined as "a promise which meets the requirements for the formation of a contract and limits the promisor's power to revoke an offer". [1] Option contracts are common in relation to property (see below ) and in professional sports .
In United States law, a lis pendens (Latin for 'suit pending' [1]) is a written notice that a lawsuit has been filed concerning real estate, involving either the title to the property or a claimed ownership interest in it. The notice is usually filed in the county land records office.
The sponsor of the new Texas bill, Kolkhorst, cited "the purchase in 2021 of over 130,000 acres in South Texas by a Chinese-controlled firm" and its proximity to an Air Force base as among the ...
A lease option (more formally Lease With the Option to Purchase) is a type of contract used in both residential and commercial real estate.In a lease-option, a property owner and tenant agree that, at the end of a specified rental period for a given property, the renter has the option of purchasing the property.
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