Redfin
JUNE 23, 2025
Key takeaways An option contract gives the right, but not the obligation, to buy a property. An option fee is paid to secure this right. Option contracts provide flexibility for buyers and sellers in real estate transactions. it’s important to understand certain real estate terms like “option contract”.
Redfin
JULY 21, 2025
These include contractual protections like contingencies, state-specific allowances like the option period, and financial repercussions such as forfeiting earnest money. Option period In some states, such as Texas, real estate contracts include an option period. When is an ideal time to back out?
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Redfin
JULY 15, 2025
In Texas , buyers can purchase time following the inspection, known as the “ option period ” — a non-refundable fee for extra time to inspect the home and back out if needed—without penalty. Sellers, if you haven’t heard back from your buyer, you’re likely not being ghosted. Why is the buyer silent after the home inspection?
The Close
JANUARY 16, 2025
If youre looking to buy a home but have financial concerns or hesitations about bank loans, choosing the rent-to-own path is a great option, as opposed to the traditional mortgage path. Lets dive in so you can decide if this option is right for you. This is also useful with an incoming tenant interested in a rent-to-own option.
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?
Housing Wire
APRIL 13, 2021
The Lone Star State’s friendly tax policies combined with the city’s huge tech scene and its cool factor have made it a destination for Silicon Valley types for several years. In addition to the same demographic factors driving growth elsewhere — all those millennials buying homes — the number of companies relocating there is a huge draw.
HomeLight
MARCH 7, 2024
Buying a home is rarely done with casual disregard. You’ve planned, juggled finances, worried about finding the right house, and then you finally sign a contract. But what happens if you’re now facing the decision of submitting a buyer cancellation of the purchase agreement? What is a home purchase agreement?
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