Open-end Mortgage

A type of mortgage that is not final; additional loan advances can be added to the mortgage, while still keeping the same security and security documents.

Option Period

This is the time window that gives the buyer the sole ability to cancel a contract for any reason he sees fit without facing any penalties. The customary option period for South Texas is 10 days in order to allow time for home inspection. The fee is typically $10/day.


A policy that outlines the title of an owner


The exclusive right to use property as one sees fit, due to being the sole owner and controller of the property.