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What are the benefits of pre-inspecting your home before listing it?
In Texas, we are apparently very unique among other states in that a buyer of real estate can purchase an unrestricted right to terminate the contract. This is known as an option period and is typically granted for 7-10 for a nominal amount of money, such as a few hundred dollars. The buyer can terminate the contract for any reason whatsoever, and can exercise that right anytime up until 11:59 pm on the final day of the option period. Should they decide to exercise this right, then they are only out the fees negotiated for the option and any inspection fees paid.   When a house goes under contract, especially in a hot seller's market like Austin's, sellers will attempt to negotiate as short of an option period as possible. Typically a buyer will request a seven day option period, however, it is not uncommon for a seller to accept an offer with a three-day option period. With a very tight option period, it can become very challenging for the buyers to do their due diligence. At the minimum a buyer needs to have a home inspected, and possibly to have specific contractors provide estimates for repairs if there are any. Because of these time ... more

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