The option period in a Texas residential contract:

The option period is not required by law in Texas. It's a contractual provision negotiated between buyer and seller, not a mandatory legal requirement. While commonly used in residential contracts, its inclusion, duration, and terms are all negotiable points that depend on the agreement between parties rather than statutory mandate.

The option period in Texas has no maximum duration limit set by law. While 7 days is common, the parties can agree to a longer or shorter option period, making this option factually incorrect.

The option period is not free to the buyer. Texas law requires the buyer to pay an option fee to the seller, which is non-refundable if the buyer terminates during the option period. This payment is what creates the buyer's right to terminate.