Real Estate FAQ’s | The Option Period
The Option Period is a negotiated number of days that you have once you’ve contracted, you use those days to perform inspections, you typically have an exchange of money for that period. Standard, here in San Antonio, it’s usually a 10-day period and you typically pay $10 per day and during that time you can cancel for any reason. You’ll forfeit the money that you’ve exchanged but you’ll get your Ernest money back in full refund.
The Option Period is a very exciting time, it’s time the you’re going to be looking at the home from all angles with your inspector. It’s a nerve-racking time because you want to make sure that you’re buying the perfect home for you. Our job is to guide you through that period and to pull resources to help you further investigate different aspects of the home.