Document background
The Option To Buy Contract is a crucial document in Belgian property transactions, used when a potential buyer needs to secure the right to purchase a property while requiring time to arrange financing, conduct due diligence, or meet other conditions. This agreement, governed by Belgian civil law, particularly the Belgian Civil Code, provides the option holder with the exclusive right to purchase the property at a predetermined price within a specified period. It includes essential elements such as property details, option premium, purchase price, exercise period, and conditions for completion. The document is commonly used in both commercial and residential property transactions, requiring careful consideration of Belgian property law, registration requirements, and tax implications. The Option To Buy Contract serves as a preliminary step to a full purchase agreement, offering protection to both the property owner and the potential buyer during the option period.
