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Option To Purchase Agreement
"I need an Option To Purchase Agreement for a commercial property in Singapore's CBD area, with a 3-month option period and staged payment terms, to be completed by March 2025."
1. Parties: Identification and details of the option grantor and grantee
2. Background: Context and purpose of the option agreement
3. Definitions: Key terms used throughout the agreement
4. Option Grant: Terms of the option, including consideration and exercise period
5. Property Details: Specific description of the property or asset subject to the option
6. Purchase Price: Agreed price and payment terms
7. Exercise of Option: Procedure and requirements for exercising the option
8. Completion: Terms and conditions for completing the sale upon exercise
1. Due Diligence: Terms for property inspection and verification - used for complex property transactions
2. Financing Conditions: Terms related to obtaining financing - used when buyer requires loan approval
3. Property Management: Interim management terms between option grant and exercise - used for income-generating properties
4. Tax Provisions: Specific tax arrangements and responsibilities - used for high-value transactions or complex tax situations
1. Property Description Schedule: Detailed description of the property including boundaries and fixtures
2. Title Documents: Copies of relevant title documents and certificates
3. Form of Exercise Notice: Template for the formal notice to exercise the option
4. Payment Schedule: Breakdown of payment terms and installments if applicable
5. Property Plans: Floor plans, location maps, and other relevant drawings
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