Option period
What is the option period in Texas? English and Spanish
In Texas the option period is a number of days, set in the contract, during which the buyer can terminate for any reason in exchange for an option fee paid to the seller.
Key rules
It ends at 5:00 p.m. local time where the property is, counts calendar days from the day after the effective date and does not move off a weekend or holiday. The option fee and earnest money are due within 3 days – and that deadline does move to the next business day.
Send it in Spanish
The same explanation for a Spanish-speaking buyer or seller – copy and send:
En Texas, el período de opción (option period) es un número de días, acordado en el contrato, durante el cual el comprador puede terminar el contrato por cualquier motivo a cambio de una tarifa de opción (option fee) que paga al vendedor.
Calculate the deadlines: Texas option period calculator
General explanation, not legal advice and not a translation of the contract. The signed contract and the law of the state where the property is located govern.
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