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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HomeLight

MARCH 7, 2024

Sale price and terms: The agreed-upon price for the property and the terms of the payment, including the earnest money deposit amount and financing details. 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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HomeLight

AUGUST 29, 2022

Get creative with your offer — you may want to offer a larger earnest money deposit, schedule a quick closing, or even consider letting the seller rent the house back from you for a certain period of time. Earnest money deposit amount. Send your earnest money deposit.

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Real Trends

OCTOBER 1, 2022

“Recently, I have only had one cancellation by a buyer and that was because during the inspection, things were revealed that were not visible on the surface and the buyer walked away because she didn’t want to spend the time or the money to correct all of the issues.”.

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Redfin

JUNE 21, 2023

” Additionally, Jackson adds that you shouldn’t “complete your option period without having that inspection evaluated by a professional contractor.” Don’t forget about taxes Yes, taxes are a significant component of real estate investing.

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HomeLight

MAY 24, 2022

This task can happen while you’re obtaining the funds verification (if you didn’t do that in advance), as your bank will need information on where to transfer the money. Submit earnest money: 1 day. An earnest money deposit demonstrates your good faith to go through with the offer. Option periods.

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HomeLight

MARCH 16, 2023

The buyer does due diligence during the option period in Texas. The option period is the number of days the buyer has to thoroughly inspect the property and terminate the contract for any reason. Krueger says the due diligence period in Houston is typically 10 days for an agent-assisted sale.

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