WebJul 26, 2024 · The option period begins as soon as the offer is accepted and the contract is executed. Generally the option period is 10 days but can be shorter or longer. The buyer will write a check to the seller for the agreed amount, usually $100-$200 The option fee can be applied towards closing cost if agreed upon. WebApr 17, 2024 · The option period is the time where the buyer can legally back out of the purchase of the house, and the buyer's earnest money is refunded. It is good to note that so long as a buyer is within the option period in Texas, the …
The Option Period: Termination and Timelines - Kimberly Howell …
WebJul 25, 2014 · Time is of the essence Buyer - it is imperative that you deliver the option fee to the seller within three calendar days. If you are late the option period no longer exists. You have lost the opportunity to terminate the contract for … WebThe Option Period in Texas is a specified number of days set forth in a real estate contract which allows the buyer to terminate the contract for any reason. This option, when written into a real estate contract, creates the right to terminate the contract within a certain … long mirror wayfair
Feasibility Calculator Texas Title
WebJul 11, 2014 · When you write a contract to purchase a home in in Texas, you can buy an “option period” (usually 7-10 days, negotiable) from the seller for $200-$400 (negotiable) that gives you the irrevocable privilege to back out of the sales contract for any reason, and still receive your 1 percent earnest money back. WebSep 12, 2024 · This option period usually lasts between 5 and 10 days. A home inspection is usually done by a third party such as a certified home inspector. The purpose of the home … WebJan 24, 2024 · Inspections should be scheduled IMMEDIATELY after you have come to terms, executed contracts and delivered Earnest Money and Option Fee. Your option period is normally between 7 and 10 days, so you need to work fast on this. Like (4) Dislike Report abuse Bronze Mark A. Villarreal About 2 years ago Great Question. long mirror vintage