Singapore Property Condominiums Real Estate - What is "exercising" the Option to Purchase?

What is "exercising" the Option to Purchase?

Real Estate Self Help - Option To Purchase When Buying Property In Singapore
What is "exercising" the Option to Purchase? It means that the Buyer is complying with all the terms in of the Option made by the Seller for selling his/her property. A binding contract is created, and the Buyer will also pay for the next 4% of the purchase price of the property.

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