The Wise Home Owner
Welcome to The Wise Home Owner! I am Brandon Kahla and my mission is to simplify home ownership and a little bit what's going on in the world of real estate. what all goes into home ownership. In this show, I will share the stories of clients that I work with, struggles and triumphs of my own experiences of home ownership, what it takes to buy a home in today's market, and all the things to expect (mostly the unexpected) throughout the journey. Come along with me as I dive deep into topics that might seem completely foreign to you, and by the end of each episode you hopefully feel like it's something you can more easily understand. You don't know what you don't know, and it's time to start figuring out what you don't know. Let's get everything down to a 3rd grade level. It’s time to get started!
The Wise Home Owner
26: What the heck is an option period and why do I have to pay for it??
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In this episode I will be diving in deep on two important concepts in real estate: option money and option period. These terms are essential to understand when entering into a home purchase contract.
Option money refers to a payment made by a potential buyer to the seller during the early stages of a home purchase. This will happen after an offer is accepted and is information that is included in the offer that your real estate will submit.
The specific timeframe in which the buyer has the exclusive right to terminate the contract is called the option period. This period is negotiated between the buyer and the seller, typically lasting between 5 and 10 days.
For more information about any and all real estate questions please reach out at brandonkahlarealestate@gmail.com or check out more of my content on Instagram @brandonkahlarealestate or YouTube at Real Estate, Simplified!