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Hi, this depends greatly on the buyer side, but there are indeed cases whereby they decide not to exercise and forget the option fee.

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We won't know what the potential of not exercising is, that is why in such scenarios, we will usually advise our sellers to request for additional option money to extend the Option in order to reduce the opportunity costs.

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Hi, appreciate your sharing. It subjected to both parties to negotiate on the terms and condition before proceeding.
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Stewart-PropNex (Senior Associate Division Director) Read More

If a potential buyer has already paid an option fee but is requesting an extension to exercise the option to purchase, several factors could influence whether they will ultimately proceed:

1. **Buyer’s Motivation**: If the buyer is genuinely interested but needs more time for financial arrangements or to finalize other details, they are more likely to proceed.

2. **Market Conditions**: Changes in market conditions or new listings may affect the buyer’s decision. If they find a more appealing property, they might choose not to exercise the option.

3. **Financing Issues**: If the buyer encounters difficulties securing financing, this could lead them to withdraw from the purchase.

4. **Negotiation Outcomes**: If there are unresolved issues or disagreements about the terms of the sale, the buyer might reconsider.

5. **Time Extension Reason**: Understanding the reason for the extension request can provide insights. For example, if it's due to personal circumstances, they may still want to proceed.

While there's always a risk that a buyer may not exercise the option, clear communication and understanding their motivations can help gauge the likelihood of them moving forward.
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Good day to you,

For this particular case, i would assume we are talking about private property. The extension of exercise date is to be aligned between willing seller and buyers. Fundamentally, we need to understand the rationale for the request. Are they purely seeking more time to secure their financing or pending sales of their current property? Without such understanding, buyers can choose not to exercise the OTP if they are delaying time while trying to secure a better unit.

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