Texas Real Estate Brokerage Sales Apprentice Education (SAE) Practice Exam

During the option period, what can buyers do regarding the contract?

1. Notify the seller of their intent to proceed

2. Perform an inspection and negotiate repairs

3. Withdraw from the entire process

4. Complete the sale without conditions

The correct answer is: Perform an inspection and negotiate repairs

During the option period in a real estate transaction, buyers have the right to perform an inspection on the property and negotiate repairs based on the findings of that inspection. The option period is specifically designed to safeguard the buyer's interests, allowing them to thoroughly evaluate the condition of the property without the pressure of a commitment to purchase. If issues are discovered during the inspection, buyers can discuss potential repairs with the seller, leading to possible adjustments in the sales contract, such as repair credits or price reductions. While buyers do have rights concerning the contract during the option period, choices that imply a complete withdrawal or proceeding without conditions misunderstand the purpose and benefits of this period. The option period isn't meant for buyers to finalize the purchase unconditionally; rather, it is a crucial time for them to make informed decisions and negotiate based on the condition of the property.