In Texas real estate transactions, the option period is defined as:

In Texas real estate transactions, the option period is specifically defined as a designated time frame during which buyers have the opportunity to conduct inspections of the property. This period allows the buyer to thoroughly assess the property for any issues or concerns before finalizing the purchase. Within this timeframe, buyers can negotiate repairs or even withdraw from the transaction if significant problems are discovered.

This option period is crucial for buyers as it provides them with a level of security and flexibility, ensuring they are fully informed about the property's condition before making a permanent commitment. The other options do not capture the essence of the option period in the same way; for instance, while negotiating repairs may occur during this time, it is not the primary definition. The fixed time for closing the sale refers to a separate aspect of the transaction, and the seller's obligations are defined by different contractual terms that extend beyond just the option period.