An option is an agreement whereby the buyer pays for the “option” to buy real estate within a certain amount of time and at an agreed upon purchase price. The buyer pays the seller for this exclusive right with option money. This money can be credited to the purchase price should the buyer decide to exercise their option to purchase. Lease options are what we see more commonly in our market. In a lease option, the buyer leases or rents the property from the seller during the duration of the option period.
Posts Tagged ‘Purchase Contract’
Big Island Real Estate Alternatives: Lease Option Purchases Can Be Successful
March 7th, 2011
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April 15th – Not Just Tax Day for Buyers
April 15th, 2010
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Yes, it’s tax day. But for buyers, April 15 also signals the start of the final countdown for the Home Buyer Tax Credit. There are only 15 days left to negotiate a price and complete a fully executed Purchase Contract for a property you intend to buy if you plan to qualify for the credit [...]
Is Using a Local Lender Really That Important?
June 2nd, 2008
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It is not uncommon for people moving to Hawaii to initially consider getting financing from a lender or broker located outside of the state of Hawaii. With the best interests of our buyer clients in mind, Hawaii Realtors, if you ask, will likely tell you that you may save yourself a lot of time and [...]
