home sellers: What are the benefits of pre-inspecting your home before listing it?
- 08/22/14 03:14 AM
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. … (2 comments)
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. … (2 comments)
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