Finance Option period Sales 
The Close
JANUARY 16, 2025
The terms of the rent-to-own contract outline the purchase price, the option period (when the tenant can exercise the option to buy), rent premiums, financing terms, and option fees. Rent-to-own presents certain advantages over traditional renting, but like most things, it also has drawbacks.
Redfin
JUNE 23, 2025
In exchange for this right, the buyer pays a non-refundable option fee. The seller agrees not to sell the property to anyone else during the option period. Key components of an option contract Several components make up an option contract: Optionor and optionee: The optionor is the seller, granting the right to buy.
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Redfin
JULY 21, 2025
If you’re having doubts, want to reassess your finances, or simply change your mind, doing so before any paperwork is signed allows for a clean exit without risking earnest money or triggering legal consequences. Common contingencies include: Financing contingency: Protects buyers if they can’t secure a mortgage loan.
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. If that falls through, the home sale might not go through. What happens if the buyer misses the deadline?
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
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?
HomeLight
MARCH 7, 2024
You’ve planned, juggled finances, worried about finding the right house, and then you finally sign a contract. A home purchase agreement , often referred to as a real estate contract, is a legally binding document between a buyer and seller outlining the terms of a property sale. Buying a home is rarely done with casual disregard.
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