Option Period

The Option Period in Texas is a specified number of days in a real estate contract that allows the Buyer to terminate the contract for any reason. This option when written into a contract to purchase real estate creates a right to terminate the contract within a certain number of days for a specified price without the Buyer loosing the earnest money deposit. The option period provides security to the buyer, has an agreed number of days, starts at the beginning of the contract date, requires a non-refundable fee paid to the seller and can be extended by a mutual agreement between the buyer and seller. For more information about the Option Period contact Allen Deaver of Asset Realty.