WebUnder option meaning Under option means in short: prospective buyer has right to buy the property within a certain period of time You will never come across this term in existing … WebA. 20 years of loan and real estate expertise under our belt. 150 years of team experience under our roof and these real distinctions: Unlike mortgage brokers, credit unions or bankers, we are ...
Can you make an offer on a house that is under offer?
Web17 Apr 2024 · Active Option Contract - this is a term we are asked about almost daily. The Active Option Contract status in Texas real estate means that the seller has accepted an offer on their property; the property is now under contract; and, the buyer is within the "option period." The option period is the time where the buyer can legally back out of the ... Web30 Aug 2024 · The active option contract allows the buyer to do a comprehensive inspection before proceeding with the purchase. When the property seller accepts the buyer’s offer, the buyer pays an earnest money deposit to secure their place in the transaction. After the seller has saved the buyer’s spot, the buyer can investigate the property. gray line tours start and finish times
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Web12 Sep 2024 · In some states, the active option contract is referred to as a contingency period or due diligence period. When the seller accepts the buyer’s offer, the buyer gives them a deposit to hold the house for them — this deposit is called an earnest money deposit. The earnest money is usually 1%-2% of the home purchase price. Web17 Aug 2016 · Basically someone has called dibs on it. Legally it comes down to that person having the right of first refusal when the property becomes available. There is usually a set time period during which they can get their financing together to apply. Ah, gotcha! Thank … Web1 day ago · HGTV 1 views, 1 likes, 0 loves, 1 comments, 0 shares, Facebook Watch Videos from HGTV: Flashback to a first flip for first time parents! #Flipping101 #HGTV cho gath redesign