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EM clarification pls

Hi 👋

I'm in texas and wanted to ask if I can back out within my option period and get my EM back under B5? Option Period ends 4/4 5pm. I found another home I'm interested in. My real estate agent told me to wait out the option period and back out with the HOA document. I copied both sections below. I feel like its better to back out during the option period because I dont want to drag it out so im not sure why my agent is telling me to wait it out. Is there a chance I wont get my EM back if I back out during the option period? TYIA

[NAME OF CONTRACT] PROMULGATED BY THE TEXAS REAL ESTATE COMMISSION (TREC) RESIDENTIAL CONDOMINIUM CONTRACT (RESALE) NOTICE: Not For Use Where Seller Owns Fee Simple Title To Land Beneath Unit

[HOA SECTION] (2) Buyer has not received a copy of the Documents. Seller, at Seller's expense, shall deliver the Documents to Buyer within 14 days after the Effective Date of the contract. Buyer may terminate the contract within 7 days after Buyer receives the Documents by giving written notice of termination to Seller. Buyer terminates the contract pursuant this paragraph, the earnest money will be refunded to Buyer.

[EM SECTION] B. TERMINATION OPTION: For nominal consideration, the receipt of which Seller acknowledges, and Buyer's agreement to pay the Option Fee within the time required, Seller grants Buyer the unrestricted right to terminate this contract by giving notice of termination to Seller within days after the Effective Date of this contract (Option Period). Notices under this paragraph must be given by 5:00 p.m. (local time where the Property is located) by the date specified. If Buyer gives notice of termination within the time prescribed: (i) the Option Fee will not be refunded and Escrow Agent shall release any Option Fee remaining with Escrow Agent to Seller; and (ii) any earnest money will be refunded to Buyer.

C. FAILURE TO TIMELY DELIVER EARNEST MONEY: If Buyer fails to deliver the earnest money within the time required, Seller may terminate this contract or exercise Seller's remedies under Paragraph 15, or both, by providing notice to Buyer before Buyer delivers the earnest money.

D. FAILURE TO TIMELY DELIVER OPTION FEE: If no dollar amount is stated as the Option Fee or if Buyer fails to deliver the Option Fee within the time required, Buyer shall not have the unrestricted right to terminate this contract under this Paragraph E. TIME: Time is of the essence for this paragraph and strict compliance with the time for performance is required.

submitted by /u/AdCompetitive5433
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source https://www.reddit.com/r/RealEstate/comments/1jqe14o/em_clarification_pls/

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