How the Texas Option Period Actually Works
The option period is the buyer's unrestricted right to walk away. It is also the most-missed deadline in Texas real estate.
The mechanics
For an agreed Option Fee, the seller grants the buyer the right to terminate for any reason within a stated number of days after the Effective Date (TREC 20-18 ¶5B). The fee and the earnest money are both due within 3 days after the Effective Date.
The two clocks are different — this is the trap
Delivering the money extends past weekends. If day 3 for delivering the earnest money or Option Fee lands on a Saturday, Sunday, or legal holiday, delivery rolls to the next business day (¶5A(2)).
The termination notice does not. The option period ends at 5:00 PM local time on its final day — weekend or not. Time is of the essence (¶5E). If day 7 is a Saturday, the notice is due Saturday by 5:00 PM.
No fee, no option
If no dollar amount is stated, or the buyer never delivers it, there is no unrestricted termination right at all (¶5D). An option period without a stated fee is an illusion.