By 
We have put your home on the market. You have followed my advice about de-cluttering and de-personalizing your home. You have made it as “show ready” as possible. You have made it as easy as possible for the buyer to come and tour your home.
And then, it happens.
You get an offer. You may even get multiple offers.
After we take the time to go through the offer(s), you chose one that best suits your needs as the seller.
The day after execution, it starts.
Option Period. Option Period (Termination Period) is the unrestricted right for the buyer to terminate the contract. If they terminate the contract by the last day of option period by 5:00pm (in the state of Texas), the buyer gets their earnest money back. Buyers have to pay for an option period. The cost and the amount of days is negotiable.
During this time, it is the BUYER’S unrestricted right to terminate; not the sellers.
Tips for Sellers During Option Period
Provide an Honest Sellers Disclosure
If you know it, disclose it.
Maintain Internet Access
Keep cellphones and computers near by for faster response times. Time is of the essence.
Prep Professionals
Prepare the professionals that you know an trust about option period.
Keep Your Home C-L-E-A-N
If the buyer chooses to have a home inspection, the inspector will need access to the following:
- Breaker Box
- Attic
- Hot Water Heater
- Air Conditioner
- HVAC
- Plumbing Under Sinks
- All Sinks, Dishwasher, Showers, Tubs
- Garage Door
Allowing the inspector to access these items (and more) more easily will help with the inspection. If they can not access it, then the inspector may write on the report that they were unable to access the item. Depending on the financing, this could be a challenge.
Get Out of The House
I know that when my husband and I had our home under contract, we avoided our home. We wanted to give the inspector the space they needed. If the buyer needed an opportunity to view the home again, we allowed it. Getting out of the house allowed us time to not think about the house.
Have Receipts for Repairs and Appliances on Hand
Not only will this save you time, but this will keep costs, dates, repairs, and history of repairs readily accessible.
Yes, there could be negotiation during this time. It could be none, a little, or a lot of negotiation. As the sellers, you can accept, counter, or reject. But one thing is for certain; the 5:00pm ending time.
Kelly Raulston
“Reliable and Ready” REALTOR® since 2016. I was born in Monroeville, Pennsylvania, but was raised in Texas since 1997. When I found out we were moving to Plano, Texas, I remember looking forward to riding a horse to school and a brand-new pair of cowboy boots! Growing up in Plano prepared me to be competitive, quick, and to have a strong work ethic.
I graduated from Stephen F. Austin State University in Nacogdoches, Texas. Axe’em Jacks! That is where my love for East Texas began. The nature, warm smiles, football games, and community values can't be beat! I graduated summa cum laude with a degree in Interdisciplinary Studies. I was a middle school math teacher in Tyler, Texas. I met my husband, Travis, in Sunday school, and we have been married since September 2016.
I love being a REALTOR® in East Texas! Relationships are genuine, the area is beautiful, and the market is rockin’! I am an involved REALTOR® to better the community. Some of the organizations I am involved with are: The Professional Development Committee, Texas Real Estate Political Action Committee, and Tyler Educational Networking Group. Some awards I have won were “The Hustle Award” in 2016, and “Rookie of the Year” in 2017.
When I am not working with my clients, I like to spend quality time with my friends and family doing the following: running, target practice, read and participate in book club, and playing with my dachshund Greta.
