What Is the Option Period on a Real Estate Contract?

Answer Texas and, less commonly, other states, allow a sale option period during which a buyer may cancel a sale for any reason without risking his earnest deposit. This type of option period is similar t... Read More »

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What is a real estate option contract?

A real estate option contract is an agreement in which a seller makes and keeps open an offer to sell a piece of real estate to a particular buyer. This contract is set for a fixed price and time p... Read More »

What is an option fee in a real estate contract?

One of the most important steps that home buyers should take when they purchase a home is paying the option fee. As part of a real estate contract, the option fee clause will protect home buyers in... Read More »

What is a real estate contract?

A real estate contract is a written agreement to purchase, sale or exchange real estate between parties. This contract is legally binding based on the conditions stated in the agreement.ComponentsA... Read More »

What is a real estate cash contract?

A cash contract constitutes a sale where the property owner acts as the bank and the mortgage clause is removed. The cash contract has no reference to buyer financing, thus allowing the seller to c... Read More »