Who does the option to purchase bind primarily?

The option to purchase primarily binds the seller. This legal agreement gives the buyer the right, but not the obligation, to purchase the property at a specified price within a certain timeframe. During this period, the seller is typically required to refrain from selling the property to anyone else and may also be obligated to honor the conditions of the sale if the buyer chooses to exercise the option.

This means the seller cannot back out of the deal or sell the property to another buyer as long as the option is valid and the buyer chooses to exercise it. Essentially, the seller is legally bound to adhere to the terms of the option agreement, waiting for the buyer to make a decision within the specified time period. This obligation underscores the fact that the seller cannot take other offers on the property during the option period, reinforcing the buyer's exclusive right to purchase the property if they decide to move forward.