What option period entails in real estate

Augusta

VIP Contributor
Option period which can also be called the termination option period in real estate. This is the inspection and observation period that is bought separately by a home buyer
This is an option that is only available to a property buyer that has separately bought this right for an amount of money required and for a negotiable period of time. So the buyer has the power now on when to terminate any purchasing contract with the agent

So this option period is to give the buyer enough time to assess and inspect the property to be bought without the contract being terminated by the seller before the agreed time.
 
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