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Old 08-28-2009, 06:47 PM
 
851 posts, read 3,625,620 times
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OK, this must sound really stupid, but what do I do during my option period besides doing inspection? This is about buying a used house in TX.

Am I allowed to go to the property anytime I want and probably sleep in the house?

Last edited by TheStupid; 08-28-2009 at 07:15 PM..
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Old 08-28-2009, 07:06 PM
 
Location: Eastern Washington
17,210 posts, read 57,041,396 times
Reputation: 18564
What state are you in, the laws differ - typically you can't "take posession" till you close the deal on buying a house.

What kind of option period are you referring to? Is this a lease with option to buy?
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Old 08-28-2009, 07:15 PM
 
851 posts, read 3,625,620 times
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Buying a house in TX.
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Old 08-28-2009, 07:22 PM
 
Location: Eastern Washington
17,210 posts, read 57,041,396 times
Reputation: 18564
What does your purchase contract say you can do? It's probably in the contract, should be.

It seems to me that your main task should be to inspect the house, your last chance to have the seller fix things before you sign on the dotted line and the UFO principle is invoked...
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Old 08-28-2009, 08:04 PM
 
851 posts, read 3,625,620 times
Reputation: 455
Quote:
Originally Posted by M3 Mitch View Post
What does your purchase contract say you can do? It's probably in the contract, should be.

It seems to me that your main task should be to inspect the house, your last chance to have the seller fix things before you sign on the dotted line and the UFO principle is invoked...
Besides "time is of the essence," it does not say anything more.
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Old 08-08-2016, 07:08 PM
 
59 posts, read 46,809 times
Reputation: 101
This is the time to do home inspections, pool inspection, foundation, etc., & negotiate for any repairs if needed. If you do these things during option period & you & seller can't come to an agreement over any issue, you can walk away & not lose your earnest money. If you back out after option period for any reason, you lose your earnest money, which can be thousands of dollars.
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Old 08-08-2016, 07:22 PM
 
Location: southwestern PA
22,565 posts, read 47,614,734 times
Reputation: 48158
Quote:
Originally Posted by TheStupid View Post

Am I allowed to go to the property anytime I want and probably sleep in the house?
Nope, as you are not the owner yet.
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Old 08-08-2016, 07:22 PM
 
Location: Texas
5,717 posts, read 18,909,338 times
Reputation: 11225
Until you close on the property and own it, you can be arrested for trespassing. If you need to go onto the property, get permission from the seller IN WRITING first. No letter of permission, don't go on the property.
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Old 08-09-2016, 07:30 AM
 
Location: Finally the house is done and we are in Port St. Lucie!
3,488 posts, read 3,335,073 times
Reputation: 9913
Pretty sure the OP has the house by now. Originally posted in 2009.

This is one of the only things that drives me nuts about this forum, old threads that get revived. I've started looking at the date of the first post. Depending on the topic, mostly I skip to the end to see if there is new relevant information.
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Old 08-09-2016, 07:33 AM
 
Location: southwestern PA
22,565 posts, read 47,614,734 times
Reputation: 48158
Ack!
Why do people resurrect zombie threads?

Sorry I bit.
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