How it works
How it works
Choose a future selling price. Choose how long you'll guarantee it. Buyers compete to pay you today for the right to buy at that price.
A worked example
Verified property value
$1,000,000
Future selling price
$1,050,000
Option term
12 months
Estimated option value
$32,500 – $35,900
Winning auction bid
$34,200
The seller is paid $34,200 today. If the buyer exercises, they purchase the property for $1.05M. If the option expires unused, the seller keeps both the $34,200 and the property.
Try it yourself
See how the numbers move
Drag the sliders to watch the estimated option value change in real time. This uses the same Black-Scholes model as your live estimate.
Current property value
$1,000,000
Future selling price
$1,100,000
Option term
24 months
Estimated option value
$45,200 – $49,900
Black-Scholes midpoint $47,500 · risk-free rate 4.17% / yr · volatility 9.4%
Volatility is measured by county, annualized from monthly county price changes over the trailing 36 months. Source: Realtor.com county median listing price via FRED (MEDLISPRI6097), as of August 2026. Risk-free rate is the 4.17% fallback; today's Treasury quote was unavailable.
This is an estimate. Buyers ultimately determine what your option is worth through competitive bidding.
Where the numbers come from
Volatility measures how much property prices in a market move up and down over time. The more prices swing, the more a guarantee of a future price is worth. Rather than assume a figure, we measure it from real county-level price data: we take the county's monthly price series over the trailing 36 months, calculate how much it changes month to month, and annualize that spread. That currently gives 9.4%. Source: Realtor.com county median listing price via FRED (MEDLISPRI6097), as of August 2026. The series is a county median asking price and is not seasonally adjusted, so some of the measured movement reflects normal seasonal patterns. Today the figure is refreshed by hand; we plan to refresh it automatically each month and break it down by city and ZIP code.
The risk-free rate is what money earns with no risk over the same period, and it refreshes every day from the published U.S. Treasury 10-year yield — the standard benchmark for a multi-year horizon like a property option. Today's figure is 4.17% (fallback value). If the Treasury feed is unreachable we fall back to 4.17%. These are modeled estimates from public data, not an appraisal.
What the words mean
Future purchase price
Strike priceThe price you're agreeing to sell the property for if the option holder chooses to buy during the option period.
Option premium
Winning bidThe amount a buyer pays today for the right to purchase the property at the agreed price. The seller keeps it either way.
Option period
Term / expirationHow long you guarantee the future purchase price. When it ends, the right disappears unless the buyer has already exercised.
Exercise
Buyer purchasesThe buyer notifies you they intend to purchase at the agreed price, and a normal real-estate closing follows.
Estimated option value
Pricing engine outputA range produced from property value, future price, term, local appreciation and volatility, interest rates, property type and condition, location, income where applicable, and market liquidity. It is not an appraisal or a guarantee of market value — the auction sets the actual price.
Reserve
Minimum acceptable premiumThe lowest premium the seller will accept. If bidding does not reach it, no option is sold.
Common questions
Do I have to move out?+
No. You keep living in or operating the property exactly as you do now. Nothing changes unless the buyer exercises.
What if the buyer never buys?+
The option expires. You keep the premium you were paid up front, and you keep the property. You can list a new option afterwards.
What does it cost me to list?+
Listing is $0. When an option sells, Harvl charges a 3% fee to the listing side and a 3% fee to the buyer side, both on the option premium — each bid states who the buyer expects to fund each side, and you agree to it when you accept. If the option is exercised and the property closes, Harvl Brokerage charges 2% of the sale price where it represents the seller. If Harvl Brokerage also represents the buyer, that buyer-broker fee is 2%, agreed separately in the buyer's own written agreement — it is not a combined 4% commission and not an automatic seller obligation. Real estate brokerage compensation is not fixed by law and is negotiable. Buyer brokerage compensation is established separately between the buyer and their broker, and any seller contribution toward it is separately negotiable. For Option Verified listings, sellers also pay third-party verification and onboarding directly (typically about $2,500–$5,000 for a verified home). See the full breakdown on the Fees & compensation page.
Who represents me?+
You're represented by a licensed agent throughout. For most listings, that's a Harvl agent from Harvl Brokerage, who coordinates verification, answers buyer questions, and works with you through any eventual sale. If you already have an outside agent you'd like to work with, you can instead be represented by an agent from an approved licensed Partner Brokerage — your agent keeps your client relationship and facilitates the listing, verification, and sale alongside Harvl's marketplace and technology.
Is this rent-to-own?+
No. There is no tenancy and no rent credit. This is a marketplace for the transferable right to purchase a property at a set price within a set window.
What does 'Option Verified' guarantee?+
Verification means independent third parties inspected, appraised and documented the property on the dates shown. It provides information — it does not guarantee future property value or condition.
Ready to see your number?
Four questions, no account required to get an estimate.