DAILY NEWS HOMESContact 409 683-5301 | Your new home is waiting for you ... Saturday, April 9, 2016 | The Daily News | C1

GALVESTON COUNTY’S FEATURED HOME

Wendell OdorizziWendell Odorizzi is president of the Galveston Associ-ation of Realtors and is a Realtor with Sand ‘N Sea proper-ties. He can be reached at 409-771-2649 or wendell@sandnsea.com.

Jenifer DuguayJenifer Duguay is a Realtor with RE/MAX Pearland and serves as the 2016 Southeast region representative for the Houston Association of Realtors/HAR.com.

How buyers can keep their options open before closing

Real estate contracts in Texas have an “undo” button of sorts. A clause in the sales contracts allows buyers to legally cancel the whole deal. Paragraph 23 in the Texas Real Estate Commission residential sales contracts is called the “termination option,” and it lets buyers pay a fee for the right to terminate their contract during a defined period of time.

The termination option isn’t required to purchase a home, but most buyers make it part of their offer. The amount of the fee and the number of days of the option period are negotia-ble. Whether you’re buying or selling real estate, your Galveston area Realtor® can help you decide what is best for your situation.

Why buyers use termi-nation-option periods — During the option period, a buyer can terminate the contract for any reason and get the earnest money back as long as you give notice of termination within the time specified in the contract. Most buyers use the option period to have the property inspected or otherwise evaluated. If the buyer doesn’t terminate the contract during the option period, the transaction moves ahead. Depending on what’s in the contract, the option fee may be credited to the sales price at

closing. Advice for buyers — As

a buyer, make sure the option fee is an amount you are comfortable paying if you want the ability to terminate the contract. And don’t schedule your inspections at the end of the option period. You want enough time to conduct inspections and address any concerns. Also, if an inspection reveals conditions that lead to additional negotiations, you will want those talks to happen during the option period so you still have the right to terminate.

What’s in it for the seller — Sellers don’t have the ability to terminate the contract during the option period, but the termination option does have a few benefits for sellers. One benefit is that a seller re-

Become involved in your community

When you buy a home, you’re also buying into a neighborhood. Whether for character, the schools or the investment po-tential, you chose to buy in a certain area. As a homeowner, you should take an active role in your community so that the conditions you found so favorable remain that way.

It only takes only a little time to get to know your neighbors. Discuss concerns about the neighborhood and community. Share infor-mation. Consider helping organize a block party.

Internet discussion groups and neighbor-hood-specific websites offer a great way to communicate with people in your immedi-ate area. Many Realtors write blogs with local-ized information and distribute neighborhood newsletters or otherwise share their expertise with neighbors.

Be alert to neighbor-hood “red flags,” like in-sufficient street lighting, boarded-up buildings, vacant lots and over-grown yards. Work with law enforcement, civic groups, schools, local businesses, community agencies, churches and service clubs to address

problems.Consider joining a

neighborhood watch group. If none exists in your neighborhood, start one with help from local law enforcement and community groups. Every summer, National Night Out encourages people to get out and meet their neighbors.

Finally, help local gov-ernment do its job. You can also ask the local po-lice department to speak to your neighbors about safety, crime trends and ways citizens can help.

Sometimes the smallest projects can have a big effect on daily life. Find-ing out about proposed projects before they’re approved enables you and your neighbors to or-ganize, assess the impact

Open House: View this home from 1 p.m. to 3 p.m. this Saturday, April 9

This classic three-bedroom, two-bath canal front home boasts an open floor plan with large bedrooms, great spaces to relax and entertain guests, and gor-geous sunrise views, all on an oversized lot.

This home is the picture of island charm with bright, airy rooms, large decks and a contemporary interior. The main living area features tile floors, high ceilings, and an abundance of natural light. The efficient galley-style kitchen has bright white cabinets with plenty of storage space and a convenient break-fast bar.

The spacious master suite features deck access, built-ins, and an en suite bath with stand-alone shower. Two more bedrooms boast new carpet, large closets, and custom built-ins. The ground level bonus room with full bath could make a great home office, TV room or fourth bedroom.

Outside, the expan-sive south-facing deck offers water views and plenty of room to entertain family and friends. A large sun-ning deck extends over the boat house which

boasts a boat lift, fish cleaning station, and recently replaced decking for easy fishing access.

The ground level outdoor patio includes a fun tiki bar, and the attached one-car garage is ideal for stor-ing a boat, kayaks, or a golf cart.

Neighborhood amenities in Terramar include a fishing pier, covered pavilion, and a community pool.

The home is listed at $385,000, offered furnished. For more information, call Jana Turner, REALTOR® at Sand `N Sea Properties, at 713.819.9233.

Refreshing island retreat22803 Vida, Terramar Beach

See ODORIZZI on page C3

See DUGUAY on page C3

GALVESTON COUNTY, TEXAS SATUrDAY, ApriL 9, 2016 ★ THE DAiLY NEWS ★C3

and offer constructive input in the appropriate forum throughout the process. Also, identify your local politicians and be willing to contact them.

No matter where you live, your neighborhood

directly affects the quality of your day-to-day life.

Do your part to ensure the neighborhood and your home retain their character and appeal. After all, a stable or im-proving community is an integral part of increas-ing real estate value and makes your investment more profitable in the long run.

ceives a fee in exchange for agreeing to give the buyer the right to terminate. For example, if you agree to a $200 option fee as a seller, then you get $200 whether or not the buyer chooses to terminate the contract.

Another benefit is that

the option period gives buyers time to make sure they are entering into the contract pleased with their purchase. You probably prefer to sell your home to someone who is satisfied with the condition of the property instead of a buyer who regrets agree-ing to buy your home. If the buyer terminates the contract during the option period, you likely got out

of a transaction that would have caused you head-aches and possibly a trip to the courtroom.

Advice for sellers — While most sellers want to keep the option period as short as possible, digging in your heels may work against you. If a buyer feels pressured and can’t get the information she needs in time, she may feel that her best course of action is to

terminate the contract. Remember, you can still market the property and accept backup offers during the option period, which gives you a measure of protection in case the deal does fall through.

For more advice about buying and selling real es-tate in the Galveston area, visit TheGalvestonMLS.com.

Living the Dream ...

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ON THE REALTOR SCENE

Photos by John NagyPaul Vincent, Sente Mortgage, treated Realtors and affiliates to cocktails and hors d' oeuvres on April 5 at The Grotto in the San Luis Hotel. A great time was had by all.

Pictured are Claire Reiswerg and Carolyn Sunseri.

Dana Phillips, Harriet Dues, Suzanne Jackson Corbin, Karen Flowers, Paul Vincent, Lynn Eanes, and Robert Zahn.