Option Pending Period - 2 Months?

**B-Q** · 02-15-2010, 02:30 PM

We are looking at a house, but someone put in an offer before us.

The status has been option pending for 2 weeks. I called the sellers agent's office to ask when it expired. I was told March 31. Aren't option periods usually 10 days or so. Is it possible to have an option period 2 months long?

Thank you.
BQ

**First Time Home Buyers** · 02-15-2010, 02:59 PM

The "Pending" period can be as long as the buyer and seller agree on.

Usually from the time you write an offer to when you close on a home you'll wait about 30-45 days. So 60 days isn't that out of the question. It may sync up with rental dates for the new buyers moving out of their old place.

If you hire a buyer's agent, they will help you with these things. Their commission is almost always paid by the seller and seller's broker, so if you're worried about spending a bunch of money, you're really not. Their experience is well worth the cost, as long as they are a good agent. Interview a couple and find the right fit for you. Best of luck!

**B-Q** · 02-15-2010, 03:47 PM

Thank you for your response.
Just to clarify - This is a pending option for the buyer to purchase the house, as the seller has accepted the offer; and not a sale pending (waiting for financing to clear etc).

?