The option period is a defined length of time that has been negotiated and agreed upon by both buyers and sellers. The option period starts the day AFTER the contract execution date and ends at 5 pm (local time) on the last day.
If you are buying a home in Spring Texas and you have a 10 day option period and the contract execution date is January 20th, then the option period ends at 5 pm (local time) on January 30th. All days in the contract are calendar days. Holiday or non-holiday days it doesn’t matter. Every day is counting as a day when determining the day that the option period ends.
But if you’re buying a home in Champaign Illinois, the option period may or may not end at 5 pm on January 30th because real estate is local and that includes the interpretation of when the option period ends.
From start to finish of selling our house Jill was thorough, prepared, and very hard working. She was great at... read moreFrom start to finish of selling our house Jill was thorough, prepared, and very hard working. She was great at listening and also providing the advice we needed to sell. Hands down the best realtor my husband and I have worked with! read less