HomeLight
SEPTEMBER 16, 2022
In the state of Texas, an “option period” allows a buyer to get these details before making the final choice. Keep in mind that option periods are specific to Texas and other states will have different processes that give buyers the time they need to make the final decision. What is an option period?
Housing Wire
APRIL 13, 2021
Jay Garrett, a loan officer at Supreme Lending ’s McClellan Branch in Austin, said he is seeing 10 to 40 offers on houses no matter where they are in Austin, and cash offers are winning the day because sellers don’t want to have to worry about the house appraising too low for someone who needs financing. “If
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HomeLight
MARCH 7, 2024
You’ve planned, juggled finances, worried about finding the right house, and then you finally sign a contract. This comprehensive document details everything from the purchase price, down payment, and financing terms to contingencies, closing dates, and any specific conditions both parties must meet before the sale can be finalized.
The Close
JANUARY 16, 2025
The terms of the rent-to-own contract outline the purchase price, the option period (when the tenant can exercise the option to buy), rent premiums, financing terms, and option fees. If you choose to purchase the home, youll start the standard mortgage application process to get financing.
HomeLight
MAY 24, 2022
Option periods. If you have concerns about your home purchase — whether you feel rushed or nervous about spending that much cash — your agent might suggest adding an option period into the contract. During this time period, you could change your mind. Low appraisals. One way to do it is with HomeLight’s Cash Offer.
HomeLight
MARCH 13, 2023
Speed: One of the biggest benefits is a fast sale, as cash buyers are able to close the transaction quickly without the delays often associated with traditional home sales, such as waiting for financing approval or appraisal. The buyer does due diligence during the option period in California, which is typically one to 10 days.
HomeLight
MARCH 13, 2023
You are either replumbing the house, rewiring the house, or putting a new roof on the house prior to closing so that a financed buyer can get insurance. There’s just so much less risk with a cash offer than with a financed offer that it is night and day,” says Spray. The buyer does due diligence during the option period in Florida.
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