article thumbnail

Working with buyers in the nation’s hottest housing market

Housing Wire

Austin, Texas might be the hottest housing market in the country. 1 city in population growth for the last eight years and it was the hottest job market in 2019 and 2020, according to the Wall Street Journal. It is just a super tight housing market. “But in other competitive markets this is what it takes to buy a house.

Marketing 535
article thumbnail

What Is an Option Period When Buying a Home?

HomeLight

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?

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Austin-Based REALTOR® Leverages Home Warranty Partnership in High-Demand Market

RIS Media

This home warranty partnership instills added comfort in the buying and selling process, particularly in a market with rising prices and multiple bids. . “We’re seeing buyers waiving everything, from appraisals, option periods and inspections,” says Riley, who notes that cash isn’t even winning these days.

article thumbnail

How to Find Rent-to-Own Homes: An Investor Guide

The Close

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. Some investors are hesitant to rent the home to tenants without stellar credit.

article thumbnail

When Can a Buyer Cancel a Home Purchase Agreement?

HomeLight

She says buyer’s remorse is something she’s seeing more often in the current housing market. To get a better feel for what’s happening in the current market, HomeLight surveyed more than 1,000 of the nation’s top-rated real estate agents. What is an option period?

article thumbnail

“Back on the market:” How agents are navigating the uptick in contract cancellations

Real Trends

Buyers – and sellers – are blowing up deals as the housing market cools. I have seen a lot of emails coming to me that say ‘back on the market,’” Warren, a Houston-based Compass agent, said. “I And now we have had this huge shift in the market , and it has happened so quickly and again people were perhaps caught off guard.”.

article thumbnail

How Long Does It Take to Close On a House With Cash in 2022? Here’s Your Timeline

HomeLight

In a competitive market, paying cash could help you beat out other homebuyers. This time frame depends on many factors, such as the level of local market activity and how easy it is for the appraiser to find recent comparable home sales. Option periods. During this time period, you could change your mind.