how long is option period
The seller can continue to market the property and take back up offers in case the first buyerâs deal falls through. The option period usually lasts between five to ten days, but can last as long as thirty days. It can also be extended (by mutual agreement) for a negotiated amount. The fee is paid directly to the seller and is non-refundable (it is not sent to the title company). Option period money must also be paid within 48 hours.