QUESTION
Is there a standard fee, or rather percentage, paid for an option to buy a parcel of land worth about $7,000,000?
Asked on Aug 16th, 2012 on Real Estate - Utah
More details to this question:
The buyers want an option to buy it in phases, each phase worth about $1,700,000.
1 ANSWER
Real Estate Law Attorney serving Anniston, AL
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Isom Stanko & Senter, LLC
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No, each transaction is to be handled on the terms agreed to by the parties. Any such agreement should be in writing and signed by all parties, and should be prepared by a competent attorney.
Answered on Aug 18th, 2012 at 3:36 PM