"Option Pending" in Texas is the unrestricted right to terminate the contract for any reason ! This is the time period the buyer has a home inspection and negotiates any repairs. This is usually 7-10 days or whatever the buyer and seller negotiate. There is a nominal fee for this option.
The "Pending Continuing to Show" is continue to show the home even though there is an executed contract. The seller would like to continue to show for a "Back Up Offer" in case the first buyer does not close.
Have a great day!
Balboa Real Estate - Ventura, CA
Ventura County Real Estate Consultant 805-746-1793
Tracy, here locally we have "back up contingent" for a status that means the same as your "Option Pending" or "Pending Continuing to Show". This status classification is fairly new to us, came about from all the short sales. I do like it.
Aug 14, 2013 02:54 AM
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