What is a Termination Option Period?

A termination option period (known as “option period”) is a form of a due diligence period. It is only available to a buyer who separately purchases this right for a negotiable amount of money and period of time.

What is a Hard Money Loan?

Hard money loans are an alternative way to borrow money without using a traditional lender. Hard money lenders finance the loan based on the property in question, not on your credit score, and typically require a large down payment and short repayment schedule, according to Nerdwallet.

What is an Earnest Money Deposit (EMD)?

An earnest money deposit or an EMD, is the initial funds that any buyer is asked to supply once their offer is accepted by the seller. This is meant to show that the buyer is serious about their purchase of the listing/property!