Homes for Sale in Bryan / College Station, Texas Benefit from Paragraph 23

Homes for sale in the Bryan / College Station, Texas market–that is to say, home buyers and home sellers– benefit from the termination option period found in paragraph 23 of the promulgated Texas Association of Realtors contract form #1601.   This paragraph gives home buyers  a “try it before you buy it” type of advantage. 

Here in Bryan / College Station, we typically see between 7 to 10 days in this termination option period [unrestricted right to terminate for ANY reason].  This gives home buyers time to have inspectors come to the home and examine it with an unbiased, professionally eye.  Inspectors are not emotionally involved in the purchase, and are able to impartially judge the home against a state-issued standard. 

Home Buyers are benefited by having a written report from the inspector.  This gives them further negotiating room with the seller. This provides written documentation of the condition prior to purchase.  For example, the residential service contract companies are more likely to fix HVAC (Heating, Ventilation, and Air Conditioning)  issues after closing if you have a clean inspection report prior to the closing date. 

Home Sellers are benefited since buyers are more willing to sign an earnest money check and purchase offer when they know, that by also submitting a termination option check–usually in the $50.00 to $100.00 plus range–with the offer, they can terminate for any reason during their option period.

I have seen homes for sale in Bryan / College Station, Texas go under contract, then have the contract terminate for reasons such as foundation, termites, etc...  One reason the home buyer has a slight negotiating advantage in this process is that once a home seller knows of the condition, it must be disclosed to the next buyer.  BUT, there is normally negotiating room from the buyer, too. 

-Nathan Cook, REALTOR ®

 Homes for Sale in Bryan / College Station, Texas