The Texas Option Period Explained for DFW Buyers

In Texas, the option period is a short window after the contract is signed when a buyer can terminate for any reason. You pay the seller an option fee for this right, and the length is negotiated in the contract.

It exists for due diligence. This is when buyers schedule the home inspection, get specialist opinions on the foundation, roof, plumbing, or HVAC, and negotiate repairs or credits based on what turns up.

A few tips:

• Schedule inspections right away, because the clock moves fast.
• Know your exact deadline, down to the hour.
• Put requests and questions in writing.

The option fee is generally credited to you at closing if the purchase goes through. If you terminate within the period, the seller typically keeps the fee, but your earnest money is generally protected.

Contract terms vary, so review yours carefully with your agent. Questions about an upcoming purchase? Contact Brando Villatoro, Blue Mountain Realty Group, Real Broker, LLC, at (214) 271-4733.