Thinking about buying a home in Longview and keep hearing about the “option period”? You are not alone. This small window can make a big difference in how confident you feel about your purchase and how well you negotiate. In this guide, you will learn what the option period is, how it works in Texas, what it looks like in Gregg County, and how to use it to your advantage. Let’s dive in.
What the Texas option period is
The option period is a short, negotiated time in your contract when you can terminate for any reason. It appears in the standard Texas residential contract and only exists if you pay an option fee to the seller. During this window, you can inspect the home and decide if you want to move forward.
If you terminate within the option period, you generally get your earnest money back, but the seller keeps the option fee. The exact deadlines and delivery methods for notices are set by your contract. You can review the structure of the forms on the TREC standard contract forms.
Option fee vs. earnest money
It is easy to mix these up. Here is the simple breakdown:
- Option fee: A small fee you pay the seller for the unrestricted right to terminate during the option period. It is typically nonrefundable.
- Earnest money: A deposit that shows good faith. It is usually held by the title company. If you cancel properly during the option period, you typically get this back per the contract.
For a consumer-friendly overview of these terms, you can read the TexasLawHelp homebuying guides.
Typical timelines in Longview
Option periods are negotiated. Across Texas, they often range from 3 to 10 days, with 5 to 7 days as a common middle ground. In a hot seller market, you may be asked to shorten the option period or even waive it. Longview is often less competitive than large metros, which can allow for a reasonable option window, but conditions change. Your agent should look at current inventory and demand before you write an offer.
Option fees in East Texas are commonly in the low hundreds of dollars, often near the lower end in smaller markets. Earnest money is often negotiated at a percentage of the price, with 1 percent used as a starting example in many Texas offers. The contract also specifies when to deposit earnest money and pay the option fee. Many Texas deals expect deposits within 1 to 3 business days of the effective date, but your contract controls.
Step-by-step: How to use your option period
Here is a simple workflow you can follow in Longview.
Day 0: Contract effective
- Confirm the option period length and fee in your contract.
- Pay the option fee per the contract.
- Arrange for earnest money deposit with the title company.
Days 0–2: Book inspections fast
- Schedule a general home inspection immediately. Inspector availability can limit your timeline.
- Based on property type and disclosures, line up specialty inspections. Common choices include foundation, roof, HVAC, WDI or termite, sewer scope, septic or well for rural properties, and mold or moisture evaluations.
Days 2–5: Review findings and scope repairs
- Complete inspections and review results as they come in.
- If issues appear, request written estimates from contractors. These help you propose realistic credits or repairs.
By the option deadline: Decide and deliver notice
- If you want to continue, submit a written repair or credit request.
- If you want to exit, deliver a written termination notice per the contract. The seller typically keeps the option fee, and you usually receive a return of earnest money per the contract terms.
After the option period
- If the seller agrees to repairs or credits, put it in writing with an amendment.
- If you do not agree, your ability to cancel later is more limited and usually tied to other contract contingencies.
Inspections that matter in Longview
Homes in Gregg County and the broader East Texas area face specific conditions. During your option period, consider these inspections based on the property and seller disclosure.
- General home inspection. A must for overall condition.
- WDI or termite inspection. East Texas has notable termite activity. Many lenders require a WDI report.
- Foundation evaluation. Local clay soils can move and cause differential settlement. If you see cracks or sticking doors, bring in a structural engineer or foundation specialist.
- Roof inspection. Confirm condition, age, and any storm damage.
- HVAC review. Older systems may be undersized or have moisture issues in humid summers.
- Sewer scope. Helpful for older lines or lots with mature trees.
- Septic and well inspections for rural properties.
- Mold or moisture check if past water intrusion is suspected.
You can learn more about local insect and soil concerns by reviewing Texas A&M AgriLife Extension resources on termites and foundations.
Flood and drainage checks
Heavy rain and local creeks can impact drainage. Review the seller’s disclosure and any known history of water issues. For flood risk, check the FEMA Flood Map Service Center for a property’s floodplain status. If a lender requires flood insurance, you will want to know early in the process.
Negotiating repairs or credits
Most repair talks start with your inspection reports and a short list of requests. Common outcomes include:
- Seller agrees to perform specific repairs before closing.
- Seller offers a credit at closing based on estimates.
- Seller declines, which may lead you to terminate during the option period.
All agreements need to be in writing and signed as a contract amendment. The option deadline controls your leverage, so give yourself time to review reports and get estimates.
Should you shorten or waive the option period?
In a competitive seller market, some buyers shorten or waive the option period to strengthen their offer. This reduces your inspection leverage and increases risk. In many Longview situations, you can negotiate a practical window that still lets you inspect fully. Your comfort level and current market data should guide the choice.
If you are unsure about structuring your offer, discuss pros and cons with your agent and review the contract language on the TREC standard contract forms.
Common mistakes to avoid
- Waiting to schedule inspections until late in the option period.
- Missing the written notice deadline. Delivery must follow contract rules.
- Requesting repairs without estimates to back up costs.
- Ignoring lender-required inspections, such as WDI.
- Overlooking floodplain status and drainage patterns.
Quick buyer checklist for Longview
Use this as a simple guide with your agent.
Before the offer
- Set your target option period length and fee strategy based on current Longview conditions.
- Review the seller’s disclosure for known issues and needed specialty inspections.
After acceptance
- Pay the option fee and deposit earnest money per the contract.
- Book the general inspection immediately and add specialists as needed.
- Keep a tight schedule for reports and estimates.
Before the deadline
- Decide to request repairs, ask for a credit, or terminate.
- Deliver any notices in writing per the contract.
If moving forward
- Document repair or credit agreements in an amendment.
- Track completion and request receipts before closing.
For plain-English background on option fees, earnest money, and timelines, check the TexasLawHelp homebuying guides.
How Kylie helps you win your option period
You deserve a trusted guide who knows East Texas homes and timelines. With construction-informed insight and a client-first approach, Kylie helps you:
- Right-size your option period and fee for the Longview market.
- Coordinate inspections fast and bring in the right specialists.
- Interpret reports and get credible estimates to support negotiations.
- Keep notices on time and paperwork clean.
Ready to move forward with confidence? Reach out to Kylie Hicks to craft a clear plan and make the most of your option period.
Local resources
- TREC forms and consumer info: Review the standard contract structure on the TREC standard contract forms.
- Consumer-friendly legal guides: Read the TexasLawHelp homebuying guides for plain-English explanations of option fees and earnest money.
- Flood mapping: Check a property’s floodplain status at the FEMA Flood Map Service Center.
- East Texas home issues: Explore Texas A&M AgriLife Extension resources on termites and foundations to understand local risks.
FAQs
What is the Texas option period when buying a home?
- It is a short, negotiated time in your contract when you can terminate for any reason by written notice, usually keeping your earnest money while the seller keeps the option fee.
Is the option fee refundable in Longview transactions?
- No, the option fee is typically nonrefundable and paid to the seller for your termination right during the option period.
How long should my option period be in Gregg County?
- Many buyers negotiate 5 to 7 days, but 3 to 10 days is common in Texas; the right length depends on inspector availability and current Longview market conditions.
Which inspections are most important for East Texas homes?
- Start with a general inspection, then consider WDI or termite, foundation, roof, HVAC, sewer scope, and septic or well for rural properties based on disclosures and home age.
What happens if I miss the option deadline in Texas?
- Your unrestricted right to terminate usually ends, and future cancellation options are limited to other contract contingencies set in your agreement.
