Your inspector said the A/C isn’t cooling so you want to have the A/C evaluated by a HVAC technician. The problem is your option period ends today and you can’t get an HVAC technician out to the property today. So you and the sellers have agreed to extend the option period by 2 days.
Yes. In order for a residential real estate contract to be enforceable in Texas, the buyer must provide something of value as consideration to the seller.
If the reason the option period has to be extended was not the buyer’s fault, does the buyer still have to pay to extend the option period?
Unfortunately, the answer is yes. It doesn’t matter if the reason for the extension of the option period is because your dog ate the inspection report or the sellers were not responsive. If you want an option period, you must pay for it. The only good news is that the fee for the extension of the option period does not have to be the same amount as the initial fee.
From start to finish, Jill is effortlessly thoughtful at presenting all you need to know about the house-buying process. We... read moreFrom start to finish, Jill is effortlessly thoughtful at presenting all you need to know about the house-buying process. We purchased in Fall Creek this year and felt 100% confident in every move we made, taking her advice and not missing any steps along the way. She learned our wants and pointed things out in homes we never would have noticed ourselves. Nothing ever felt rushed or bothersome in working with Jill. Her demeanor is completely professional all of the time and we really loved our experience. We recommend her 100%! read less