HOW LONG WILL A LISTING STAY IN OPTION PENDING
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About 1 year ago
Jongjit!
Great question! Option pending is a status which indicates that a home is under contract with a potential buyer and the buyer is currently in their "Termination Option Period" of the contract. This time frame is negotiated between buyers and sellers, and can be as short or as long as the parties agree to. So, though what may be typical is a 7-10 day range, the true answer is that: The amount of time that a listing is in the Option Pending status will depend on the time frame negotiated between the buyer and seller for the buyer's termination option period in a specific contract. Please feel free to reach out with any other questions you may have about all things real estate related! codysellsproperty@gmail.com (346) 412-6603
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DislikeAbout 11 years ago
For as long as the period was negotiated. 10 is the most common time period but I have seen it as short as 5 days and as long as 20 depending on individual properties.
About 11 years ago
It's been answered correctly. But I just want to add that the exact time frame will depend on what is negotiated. Nothing is standard, but it's normally between 7-10 days. Like mentioned, if repairs are needed, or more time is requested, it can be granted by the seller for additional money paid(or not) with a simple amendment.
About 11 years ago
Typically it is the days the seller and buyer agree to in the contract. Most option period are 7 to 10 days. After the seller and buyer agree to terms, then the option pending status should change.
About 11 years ago
The option period is negotiable between the buyer and seller. Most of the time, they are 10 days (calendar days) long. However, the option period can be extended if they buyer and seller agree to an extension. This sometimes happens if the parties are negotiating repairs and they need more time to get estimates for those repairs.
About 11 years ago
The typical listing will have an OP status for 10 days. But in Texas, this is something that is negotiated between the buyer and the seller.
Disclaimer: Answers provided are just opinions and should not be accepted as advice.
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