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hi Im William Dolan and this is Esquire advice where we explain complicated and lucrative real estate and business topics remember we are not forming a lawyer-client relationship by way of this channel always consult your local attorney before taking any action with that said grab a pencil and a piece of paper and get ready to learn [Music] welcome to our episode on real estate option contracts before we get started please kindly hit those like and subscribe button so we can keep bringing you valuable and profitable content lets tackle this topic key concept style the first key concept is important definitions in an option contract there is an option or which you can think of as the seller and the option II which you can think of as the buyer the second key concept is rights versus obligations if you are the buyer option II an option gives you the right but not the obligation to do something under an agreement of sale or purchase and sale agreements the buyer has an obligation to pur
