8912 Sunny Hollow - Active Option Contract

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Real Estate Agent with Citiwide Alliance Realty

8912 Sunny Hollow - Active Option Contract     

An active option contract simply is a term explaining the status of a home that's listed for sale. My client, the home seller has accepted an offer to sell their home. Now our contract is in the option period. During the active option contract period the buyer has a specific amount of days to have the home inspected, gather subdivision information, school information and possibly have a contractor meet them and discuss remodeling, negotiate or other changes they may desire. This is considered their time to preform their due diligence.

The active option contract is referred to as a contingency period or due diligence period.

In Texas, buyers must make an option period deposit, which is separate from the earnest money deposit. The option period deposit is not returned to the buyer if they back out of the sale.  Most of the time if the buyer completes the purchase, the option deposit will be applied to the final sale price.

 

    Original owner. Beautiful 2-story home near shopping & dining. EM ISD. Community pool, walking trails and park. Spacious living area, corner fireplace, vaulted ceiling with open concept. Lower floor Master suite for privacy, huge walk-in closet, garden tub, separate shower, double vanities. Secondary bedrooms are upstairs with large bonus room. Quick access to 820, Alliance, I-35 plus downtown. Fabulous layout with all the right spaces.   

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 MelissaSellsFW@gmail.com

 

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Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Melissa Jackson - congratulations for this listing going under 'action option contract' - we use term 'contingent' in MA.

Good luck for quick sale.

Feb 23, 2016 03:10 PM #1
Rainmaker
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Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

Congratulations on your new listing. Wishing you a speedy and easy sale!

Feb 23, 2016 04:52 PM #2
Rainmaker
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Richard Weeks
Dallas, TX
REALTOR®, Broker

Congratulations on your pending sale.  Nice house and nice job with your presentation.

Feb 23, 2016 09:12 PM #3
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Lynn B. Friedman
Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ... - Atlanta, GA
Concierge Service for Our Atlanta Sellers & Buyers

Melissa Jackson 
In Georgia, the GAR contract allows an "either/or" for the option you describe. Thanks for sharing about Texas wth us! Lynn

Feb 26, 2016 09:57 PM #4
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Pamela Cendejas
Second Self Virtual Assistance - Kingman, AZ
Second Self Virtual Assistance (928) 692-3235

Thank you for the explanation of an active option contract.  As a non-Realtor, that helps me understand a term I've never heard of.

Feb 29, 2016 12:22 AM #5
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Melissa Jackson

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