HomeLight

SEPTEMBER 16, 2022

In the state of Texas, an “option period” allows a buyer to get these details before making the final choice. Keep in mind that option periods are specific to Texas and other states will have different processes that give buyers the time they need to make the final decision. What is an option period?

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Housing Wire

APRIL 13, 2021

Rapidly accelerating home prices come with a variety of challenges for lenders and real estate agents, including one of the biggest pain points right now — the appraisal gap. If they get a higher offer that has financing, then when appraisal comes back, the buyer is going to renegotiate the sales price to be closer to appraised value.”.

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HomeLight

MARCH 7, 2024

Appraisal concerns: If the property appraises for less than the offer price , it can jeopardize financing, prompting buyers to back out. What is an option period? Negotiation opportunity: Based on findings during the option period, buyers can renegotiate terms or request repairs from the seller.

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RIS Media

AUGUST 17, 2021

“We’re seeing buyers waiving everything, from appraisals, option periods and inspections,” says Riley, who notes that cash isn’t even winning these days. With 15 years of experience in the business, Riley launched her career in Atlanta before settling in Texas in 2008.

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HomeLight

AUGUST 29, 2022

Contingencies: Financing, home inspection, and appraisal. Option period: In Texas, this is negotiable, and the buyer can specify the number of days that they have to terminate the contract for any reason. Order inspections and appraisal. Earnest money deposit amount. Home warranty. Send your earnest money deposit.

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HomeLight

MARCH 13, 2023

Speed: One of the biggest benefits is a fast sale, as cash buyers are able to close the transaction quickly without the delays often associated with traditional home sales, such as waiting for financing approval or appraisal. The buyer does due diligence during the option period in California, which is typically one to 10 days.

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Redfin

JUNE 21, 2023

An appraiser will help identify the actual value of a property, which can help you avoid overpaying. ” Additionally, Jackson adds that you shouldn’t “complete your option period without having that inspection evaluated by a professional contractor.”

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