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A prospective buyer pays a landowner $5,000 for the right, but not the obligation, to purchase a parcel at a fixed price within six months. Which type of contract has been created?
📚 Real Estate Principles (National/General)
Questions are based on the public PSI and Pearson VUE national content outlines plus standard real-estate principles (agency, contracts, property ownership, valuation, financing, disclosures, calculations). This covers the NATIONAL portion only — your state also has a separate STATE-law portion. The real exam is given in English; some states separately offer a Spanish-language administration.
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