Here we are again with our old friends -or and -ee. Remember -or ending words in
real estate give something. Words ending in -ee receive something. Typically, an -
or entity gives real estate paperwork to the -ee entity for valuable consideration
(money).
A real estate option contract gives you the right to buy a property without the obligation of
having to buy it. In a normal purchase contract, when the buyer and seller have a meeting of
the minds and sign it, the buyer must perform and go through with the agreed-on purchase. If
the buyer does not perform based on the terms of the contract, the seller can sue the buyer for
specific performance.
