Option Fee
Anyone with their finger on the pulse of Texas real estate knows that we are in the midst of a hot seller’s market. Anxious buyers are making generous offers in a desperate attempt to buy a home. However, an offer well over the asking price is not always enough to win the right to buy…
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The standard Texas residential real estate contract contains several options for buyers to terminate their contract for various reasons. While sellers may not like it, it makes sense that the person bringing the money has the most options. The most popular option is the paragraph that requires the buyer to deliver an option fee for…
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By Lydia Blair Special Contributor When putting a contract on a property, a buyer can usually expect to write two checks to accompany their contract — an option fee check and an earnest money check. There is no strict rule about how much each of these checks must be. The amount of this up-front money…
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