Offer and Inspection Guide

A practical framework for comparing offer terms, managing the option period, selecting inspections, and tracking contract deadlines.

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What This Guide Covers

Price and financing
Earnest money and option period
Inspection scope
Repair decisions
Appraisal and closing

Build the complete offer

The strongest offer balances price, terms, certainty, and the buyer’s risk tolerance.

Review price, financing type, down payment, lender readiness, earnest money, option fee and period, closing date, possession, concessions, title policy, survey, existing leases, and included property.
Discuss appraisal and financing provisions and how they affect both parties if value or approval becomes an issue.
Separate seller-paid buyer expenses, any seller contribution toward compensation the buyer owes the buyer’s broker, repair credits, and price changes so each economic term is clear.
Once the contract is effective, immediately confirm the Effective Date, escrow agent, delivery method, exact amounts, and every deadline. When the current TREC resale contract is used, earnest money and the option fee are generally due within three days after the Effective Date, subject to the contract’s weekend and legal-holiday provisions. The signed contract and applicable addenda control.

Plan inspection scope and timing

Begin scheduling immediately after acceptance.

Use a properly licensed Texas inspector for the general inspection and add foundation, roof, HVAC, plumbing, sewer, electrical, pool, pest, environmental, or other specialists when conditions warrant.
Coordinate access, reports, specialist follow-up, estimates, and decision time within the contractual period.
An inspection identifies observed conditions; it does not guarantee future performance or uncover every concealed issue.
Confirm the exact option-period end date and notice deadline. Under the current TREC resale contract, option termination notice is due by 5:00 p.m. local time on the final day stated in the contract.

Evaluate findings and choose a response

Prioritize facts that affect safety, function, cost, and risk.

Separate routine maintenance and cosmetic preferences from material defects, safety concerns, active damage, or major remaining-life questions.
Use a deliberate sequence: (1) proceed without requesting a change; (2) request specialist evaluation or more information; (3) request specified repairs; (4) request a lender-permitted credit or price adjustment; or (5) exercise an available contractual termination right before the applicable deadline.
Lender or loan-program rules may limit credits. A negotiated credit may not equal the final repair cost, and estimates are not guarantees.
Document agreed changes in the appropriate written form before the deadline; an inspection issue does not automatically create a termination right.

Continue through appraisal and closing

Inspection completion does not end the contract work.

Track lender approval, appraisal, insurance, title, survey, objections, closing documents, and any agreed repair verification.
For agreed repairs, confirm the written scope, invoices, permits when applicable, qualified repair providers, transferable warranties, completion before closing, and whether reinspection is appropriate.
Complete a final walkthrough to confirm condition, included items, occupancy, and agreed work.

Action Checklist

Compare price and non-price terms
Confirm funds and delivery instructions
Schedule the general inspection promptly
Select specialists when warranted
Review reports and estimates before deadlines
Document any agreed amendment
Track appraisal and financing
Review title and survey
Verify repairs and complete final walkthrough

Common Mistakes to Avoid

Focusing only on offer price
Waiting to schedule inspections
Requesting every minor item without prioritization
Assuming a repair credit covers the actual final cost
Missing a contract notice or delivery deadline

Questions to Ask

Which terms improve certainty without creating unacceptable risk?
Which conditions need specialist evaluation?
What decision must be made before the option period ends?
How could appraisal or financing change the outcome?
What should be verified at the final walkthrough?

This guide provides general educational information and is not individualized legal, tax, lending, insurance, inspection, engineering, appraisal, or investment advice. Contract documents, current law, lender requirements, title documents, and property-specific professional evaluations control.

Last reviewed: July 2026

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