What is the typical duration for an Option Period in Texas residential contracts?

The typical duration for an Option Period in Texas residential contracts is 7 to 10 days, although it is negotiable between the parties involved. This period allows the buyer to conduct inspections and evaluate the property before making a more definitive commitment to proceed with the purchase. It is crucial for buyers to have the flexibility to assess any potential issues and make informed decisions during this timeframe.

While some contracts might allow for shorter or longer option periods, the range of 7 to 10 days reflects common practice and is generally acceptable within the Texas real estate market. This time frame strikes a balance between giving the buyer sufficient time to conduct their due diligence and allowing sellers to keep their properties actively marketed.