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

You’ve planned, juggled finances, worried about finding the right house, and then you finally sign a contract. This comprehensive document details everything from the purchase price, down payment, and financing terms to contingencies, closing dates, and any specific conditions both parties must meet before the sale can be finalized.

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Housing Wire

APRIL 13, 2021

Jay Garrett, a loan officer at Supreme Lending ’s McClellan Branch in Austin, said he is seeing 10 to 40 offers on houses no matter where they are in Austin, and cash offers are winning the day because sellers don’t want to have to worry about the house appraising too low for someone who needs financing. “If

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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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HomeLight

AUGUST 29, 2022

While it is not always recommended to completely waive contingencies to impress a seller, you might consider pairing down to just the inspection contingency and financing contingency to remain competitive. Contingencies: Financing, home inspection, and appraisal. Closing date. Earnest money deposit amount. Home warranty.

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Redfin

JUNE 21, 2023

Explore your loan options When buying your first investment property, it’s essential to explore the available loan options. Understanding and comparing mortgages, government-backed loans, and private financing can greatly impact your financial success.

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HomeLight

MAY 24, 2022

Option periods. If you have concerns about your home purchase — whether you feel rushed or nervous about spending that much cash — your agent might suggest adding an option period into the contract. During this time period, you could change your mind. Low appraisals. One way to do it is with HomeLight’s Cash Offer.

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