Purchasing a new home or unit is a big decision and can take time. For many people, having a little extra time to think it through makes the process less stressful. That’s exactly what an Option to Purchase agreement offers.
WHAT IS AN OPTION TO PURCHASE?
An Option to Purchase is a simple agreement between you and the developer. It gives you the exclusive right to buy a specific property within a set timeframe, without locking you in straight away. It’s like placing the property “on hold” for yourself while you decide.
HOW AN OPTION TO PURCHASE WORKS
Here’s how the process is set up:
- You pay a small fee of $1,000.
- This secures you the first option to purchase your chosen property for up to six months.
- If you decide to buy, that $1,000 is credited towards your deposit.
- If you decide not to, the $1,000 is refunded in full.
THE BENEFITS OF AN OPTION TO PURCHASE
For buyers, the main benefits are:
- Peace of mind: Know that your preferred property is held for you.
- Flexibility: Take the time you need to make a confident decision.
- No risk: You won’t lose your money if you decide not to proceed.
IS AN OPTION TO PURCHASE AVAILABLE ON EVERY PROPERTY?
Not every property in the development is offered with this option but it may be available depending on the home you’re considering. Our team can let you know if this option applies to the property you’re interested in.
WHY CHOOSE AN OPTION TO PURCHASE?
If you’re interested in a property but want some breathing room before making a final commitment, an Option to Purchase is an excellent solution. It secures your future home and gives you time to prepare for the next step with confidence.
If you have any questions about an option to purchase, please contact us here or call 0508 HARLOW
