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Option Contracts in Real Estate: A Flexible Tool for Buyers and Sellers

Redfin

An option fee is paid to secure this right. Option contracts provide flexibility for buyers and sellers in real estate transactions. Whether you’re house hunting in the Austin market, exploring homes near the beaches of San Diego , or buying property anywhere in the U.S., Why use an option contract?

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How to Find Rent-to-Own Homes: An Investor Guide

The Close

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. Some investors are hesitant to rent the home to tenants without stellar credit.

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How Many Days After the Inspection Does the Buyer Have to Respond? All About the Fast-Moving Home Inspection Period

Redfin

But timelines can vary widely: In fast-moving markets, buyers might have as little as 3 days to make a final call after the home inspection. 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.

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Working with buyers in the nation’s hottest housing market

Housing Wire

Austin, Texas might be the hottest housing market in the country. 1 city in population growth for the last eight years and it was the hottest job market in 2019 and 2020, according to the Wall Street Journal. It is just a super tight housing market. “But in other competitive markets this is what it takes to buy a house.

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What Is an Option Period When Buying a Home?

HomeLight

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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Austin-Based REALTOR® Leverages Home Warranty Partnership in High-Demand Market

RIS Media

This home warranty partnership instills added comfort in the buying and selling process, particularly in a market with rising prices and multiple bids. . “We’re seeing buyers waiving everything, from appraisals, option periods and inspections,” says Riley, who notes that cash isn’t even winning these days.

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When Can a Buyer Cancel a Home Purchase Agreement?

HomeLight

She says buyer’s remorse is something she’s seeing more often in the current housing market. To get a better feel for what’s happening in the current market, HomeLight surveyed more than 1,000 of the nation’s top-rated real estate agents. What is an option period?