Active option means a buyer has successfully negotiated a contract to buy the property and, for a small fee, has purchased the unrestricted right to back out of the contract within a negotiated number of days, usually 10 days in this market. If the buyer exercises his option to walk away, the property will go back on the market. During the option period, the buyer will have the property inspected by a licensed residential property inspector (if he so chooses), takes steps to finalize loan arrangements, and
contemplates going through, or not going through, with the purchase.
The seller may continue to allow showings during the option period in hopes of garnering a back up offer.
We’re Stephanie and Randy Kelley, Realtors® of Keller Williams Legacy, San Antonio, Texas. If you have questions, need San Antonio realty or mortgage loan advice or assistance, or just want to chat a bit about our wonderful Alamo City, please call us at (210) 863-2661 or (210) 867-8743, or E-mail us at swkrealtor@aol.com or kelleybus@aol.com. Our SanAntonioHomeQuest.com Realty Solutions Team is always ready to help you with your home buying or selling needs.
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