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What is the option period?

A straight answer from Matt Watson, Dallas broker. Then two or three related questions worth reading next.

In Texas, the option period is the negotiated window, usually seven to ten days, during which a buyer can terminate the contract for any reason and get their earnest money back. In exchange, the buyer pays the seller a small option fee. It is your period of protection: inspections and due diligence happen here, and I make sure my buyers use every day of it.

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Related questions buyers ask.

What disclosures does a seller have to provide in Texas? Do I need a real estate attorney for a Texas closing? I have never bought a home before. How does the process work in Texas?
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