Option Listing Agreement

Definition of "Option listing agreement"

Charlotte  Ferguson
  RE/MAX Unlimited

A bilateral contract where an optionor gives an option to the optionee for the right, but not the obligation, to purchase property within a certain period of time at a specified price. An option listing agreement is purchased for a consideration and entitle the optionee to exercise the right of purchase within the time specified. If the option is not exercised within the specified time period, than it will expire worthless.

Search Real Estate Glossary

Related Real Estate Glossary terms

Related Real Estate FAQ