61. For an option fee of $6,000, a seller provided an option to a buyer for 90 days to purchase the property for $100,000. However, during the option period, the seller decides not to go ahead with the deal. What will occur next? O The seller gets to keep the $6,000. O The seller must notify the buyer before walking away from the deal. O The seller should notify their agent in-writing. • The seller must follow through with the deal as per the options contract
61. For an option fee of $6,000, a seller provided an option to a buyer for 90 days to purchase the property for $100,000. However, during the option period, the seller decides not to go ahead with the deal. What will occur next? O The seller gets to keep the $6,000. O The seller must notify the buyer before walking away from the deal. O The seller should notify their agent in-writing. • The seller must follow through with the deal as per the options contract
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
Related questions
Question
![61. For an option fee of $6,000, a seller provided
an option to a buyer for 90 days to purchase the
property for $100,000. However, during the
option period, the seller decides not to go ahead
with the deal. What will occur next?
O The seller gets to keep the $6,000.
O The seller must notify the buyer before
walking away from the deal.
O The seller should notify their agent in-writing.
•
The seller must follow through with the deal as
per the options contract](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F6604c7fa-6a2e-4dde-b4ac-274855cd287d%2F6789658f-e1a9-4ffa-93a2-a6422748edc2%2Ffj9ztp_processed.jpeg&w=3840&q=75)
Transcribed Image Text:61. For an option fee of $6,000, a seller provided
an option to a buyer for 90 days to purchase the
property for $100,000. However, during the
option period, the seller decides not to go ahead
with the deal. What will occur next?
O The seller gets to keep the $6,000.
O The seller must notify the buyer before
walking away from the deal.
O The seller should notify their agent in-writing.
•
The seller must follow through with the deal as
per the options contract
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