In short: No, the option period and inspection period are not exactly the same — but they often overlap in function. In South Carolina, the term “inspection period” is more commonly used. In contrast, “option period” is a term mostly used in states like Texas.However, both refer to a timeframe early in the homebuying process when the buyer can inspect the property and potentially walk away from...
Contingencies
Selling a home is a significant financial transaction, and the real estate contract is the most critical document in the process. This legally binding agreement outlines the terms of the sale, the obligations of both parties, and the details of the transaction. Understanding the key elements of a real estate contract ensures you protect your interests, avoid costly mistakes, and close the deal smoothly.In...