option money
Polish translation: opłata za prawo do odstąpienia od umowy kupna nieruchomości [option fee/money]
| GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
|---|---|---|---|---|---|---|
|
| 18:51 Jan 30, 2017 |
| English to Polish translations [PRO] Law/Patents - Real Estate / zakup nieruchomości w US | |||||||
|---|---|---|---|---|---|---|---|
|
| ||||||
|  Selected response from: mike23 Poland Local time: 13:18 | ||||||
Grading comment
| |||||||
| Summary of answers provided | ||||
|---|---|---|---|---|
| 3 +2 | opłata za prawo do odstąpienia od umowy kupna nieruchomości [option fee/money] |
|
| Summary of reference entries provided | |||
|---|---|---|---|
| Option Money / Option Fee |
|
Answers
47 mins confidence: 
peer agreement (net): +2
peer agreement (net): +2opłata za prawo do odstąpienia od umowy kupna nieruchomości [option fee/money] Explanation: Opłata za prawo do odstąpienia od (umowy) kupna nieruchomości [option fee/money] w określonym, uzgodnionym przez strony terminie (option period). W okresie "option period" nabywca zwykle dokonuje oględzin nieruchomości, sprawdza czy niezbędne są naprawy, itp. --- In a Texas Residential Real Estate agreement, a buyer may choose to have an option period in exchange for an option fee. An option period is a period of time when a buyer is allowed to terminate a purchase contract for ANY REASON – or no reason at all. A buyer offers the seller a sum of money for this “right terminate for any reason.” The fee, called an Option Fee, is offered at the time the offer is submitted. If accepted, the seller collects the fee. During the Option Period, a buyer can: Hire an Inspector Shop Mortgages Shop Insurance providers Shop Home Protection Plans Tour New Listings and more An option period can be any number of days for any amount of money, as long as both the buyer and seller agree. Scenario Example: $25 a day for a 7-day option period totaling $175 payable to the seller. During the Option Period (the first seven days of the contract), a buyer can have the home inspected. If repairs are recommended, a buyer can submit a repair list to the seller BEFORE the option period expires. If the seller agrees to the repairs, the option period can expire and everyone moves forward towards closing – the option fee can be credited back to the buyer at closing. If, during the option period, the seller is non-negotiable regarding repairs or any other contingency, a buyer can choose to walk away and terminate the contract. The buyer’s Earnest Money is typically refunded and the seller keeps the $175 option fee. An option fee is basically paying the seller to take the house off the market so a buyer has time to decide whether or not the home is “the one.” https://agentval.com/teaching-texas-home-buyers/what-is-an-o... Q: Is a check or money order accepted? A: Usually, yes. The listing agent and/or seller will determine the preference. Some agents will also accept cash on behalf of their clients. A receipt should be signed and provided for proof of payment. |
| |||||||||
Grading comment
| ||||||||||
| ||||||||||
16 mins |
| Reference: Option Money / Option Fee Reference information: Option - The right to purchase or lease property within a pre-determined time at a specific price. There is no obligation to purchase, but the seller is obligated to sell if the option holder exercises the right to purchase. For the option to be valid, it must include consideration (i.e. earnest money). http://www.mls.com/Home/Glossary.mvc "Option Money" (or the "Option Fee") is what you, as a buyer, pay the Seller for the unrestricted right to terminate your contract for a set period of time (sometimes know as the "Option Period"). The Option Fee can range widely depending on the price of the home and terms of the contract, but generally $75-$100 for every $100,000 worth of home will buy you a normal Option Period. Generally, these last the first 7-10 days of a contract from the day it was executed, or agreed upon, by all parties. During this time, property inspections are usually performed and quotes are sometimes gathered by Buyers and/or Sellers for any repairs that the Buyer deems necessary. Generally speaking, the Buyer is paying the Seller to take the property off the market while they check it out more thoroughly and negotiate any repairs of previously unknown problems. Real Estate Agents may still show the home, and even write a back-up contract(s) with another Buyer, but the Seller cannot usually back out of the primary contract for sale; only a buyer, who paid his Option Fee, can do this. Reasons for a Buyer terminating a contract during the Option Period may range from a property needing too many repairs (or a Seller not agreeing to repair enough to satisfy the Buyer) to the Buyers finding a better deal or just changing his mind. https://www.realtown.com/ryancave/blog/transactions/optionmo... |
| |
| Login to enter a peer comment (or grade) | ||
Login or register (free and only takes a few minutes) to participate in this question.
You will also have access to many other tools and opportunities designed for those who have language-related jobs (or are passionate about them). Participation is free and the site has a strict confidentiality policy.
KudoZ™ translation help
The KudoZ network provides a framework for translators and others to assist each other with translations or explanations of terms and short phrases.
See also:
Search millions of term translations
Your current localization setting
English
Select a language
Close search