It’s very common for a buyer to purchase an option period, the terms of which were negotiated and agreed upon in the contract. This is a period of typically 7-10 days for the buyer to perform their due diligence with a home inspection, termite inspection, and more. A buyer can cancel the contract for any reason during this period and receive their earnest money back. During this time, continue to be available for showings and any potential back up offers. Read more about the home inspection next.