Question 1

What is the Option to Purchase for Private Residential Property?

Accepted Answer

DPTWG Option to Purchase template for the sale & purchase of a private residential property (incl. Annexes A–D). Fill the details below and export the completed Option to Purchase. The prescribed wording is never altered — your entries are overlaid onto the official template. Signatures are added by hand after printing. Where the form shows a '*' choice, pick an option and the unused wording is struck through.

Question 2

How do I fill in the Option to Purchase for Private Residential Property on PropKaki?

Accepted Answer

Enter the details in the fields on this page, then click "Download filled PDF". PropKaki overlays your entries onto the official prescribed template and gives you the completed PDF — ready to print and sign. The form's prescribed wording is never altered.

Question 3

Will the completed form look exactly like the official template?

Accepted Answer

Yes. PropKaki overlays your entries onto the original PDF template. The prescribed wording, layout, footers, and page numbering remain exactly as the official version — only the blank fields you fill in get populated.

Question 4

Can I sign this form electronically?

Accepted Answer

PropKaki produces a completed PDF with signature lines left blank. Signatures are added by hand after printing, or you can use your own e-signature tool (DocuSign, Adobe Sign, etc.) before sharing the document.

Question 5

Does PropKaki store the information I enter?

Accepted Answer

No. Your entries stay in your browser session — PropKaki generates the completed document on the fly and does not retain a copy of what you typed. Close the tab and the data is gone.

Question 6

What is an Option to Purchase (OTP)?

Accepted Answer

An Option to Purchase (OTP) is a contract where the seller grants the buyer the exclusive right to purchase the property within a specified Option Period (typically 14 or 21 days), in exchange for an Option Fee (commonly 1% of the purchase price). If the buyer exercises the option within the period, the parties proceed to complete the sale; if not, the option lapses and the Option Fee is typically forfeited to the seller.

Question 7

What is the difference between an OTP and a Sale & Purchase Agreement?

Accepted Answer

The OTP is the first contract — it gives the buyer a time-limited right to buy. The Sale & Purchase Agreement (SPA) is the main contract signed when the buyer exercises the option (or, in a direct-SPA route, instead of an OTP). The SPA sets out the full terms of the sale; completion of the property transfer follows after the SPA is signed.

Question 8

Who pays the stamp duty?

Accepted Answer

Buyer's Stamp Duty (BSD), and where applicable Additional Buyer's Stamp Duty (ABSD), are paid by the buyer. Stamp duty is typically payable within 14 days of execution of the OTP (or the SPA where there is no OTP). Sellers may also be liable for Seller's Stamp Duty (SSD) if disposing within the holding period.

Question 9

How long is the Option Period?

Accepted Answer

The Option Period — the time the buyer has to exercise the option — is set in the OTP itself. Common practice is 14 calendar days for resale private residential and 21 days for HDB resale, though parties may negotiate other periods. After the Option Period expires unexercised, the option lapses and the buyer typically forfeits the Option Fee.

Option to Purchase for Private Residential Property

Vendor(s)

Form ready — need the figures to go with it?

Common Questions About the Option to Purchase for Private Residential Property