Inspection Option period Sales 
Redfin
JULY 15, 2025
The reality check of the home inspection can be a decisive point in the homebuying process—it’s when hidden issues come to light that can make or break whether or not a home is still the right choice. If you’re wondering how long buyers have to respond after the inspection report comes in, you’re not alone.
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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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. Doing this helps save you time and allows you to zone in on particular locations and property types.
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. Home inspection contingency : Allows termination if major issues are found during the inspection.
HomeLight
SEPTEMBER 16, 2022
Before inspections, you may fear the state of the home or the seller’s willingness to negotiate repairs if the home needs serious work. In the state of Texas, an “option period” allows a buyer to get these details before making the final choice. What is an option period? When does an option period begin?
Housing Wire
APRIL 13, 2021
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.”. She might also recommend increasing their earnest money to 2% or more, offer a very large option fee for a very short amount of time and even waive buyer’s approval.
HomeLight
MARCH 7, 2024
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. 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.
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