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 [email protected] or check out more of my content on Instagram @brandonkahlarealestate or YouTube at Real Estate, Simplified!