Optimised Understanding the Option Period in the One to Four Family Residential Contract (Resale)

option period begins on first ___ ___ ___ effective date of contract. option to terminate located in ___ ___ paragraph of One to ___ ___ Residential Contract (Resale).

full day after – Termination Option – Four Family

The option period begins on the first day after the effective date of the contract. The effective date is the date on which all parties have agreed to the terms and have signed the contract.

The option to terminate is located in Paragraph 23 of the One to Four Family Residential Contract (Resale). This paragraph outlines the terms of the option period and the conditions under which the buyer can terminate the contract. During this period, the buyer has the right to terminate the contract for any reason and receive a refund of their earnest money. The option period typically lasts for a specified number of days, as negotiated between the buyer and seller and specified in the contract.

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