Document background
The Lease Option Agreement is commonly used in Singapore's real estate market when a potential buyer/tenant wants to secure the right to lease a property while maintaining the flexibility to purchase it later. This document is particularly relevant in situations where immediate purchase isn't feasible or desired, but the party wants to lock in the future purchase price and terms. The agreement must comply with Singapore's property laws and typically includes details about the option fee, exercise period, purchase price, property condition, and any specific conditions that must be met. Lease Option Agreements are especially useful in Singapore's dynamic property market, where property values can fluctuate significantly.
