What type of contract allows a buyer to pay more later based on certain events?

The option to buy contract is a specific type of agreement that grants the buyer the right, but not the obligation, to purchase a property at a predetermined price within a specified timeframe. This contract allows the buyer to control the property while deferring the actual purchase, which means they may pay more later if they decide to exercise this option.

In this context, the contract is particularly beneficial for buyers who may anticipate an increase in the property's value or want to secure a purchase while they arrange their finances or assess the market conditions. This flexibility is a crucial characteristic of the option to buy contract, making it a versatile tool in real estate transactions.

In contrast, the other options do not provide the same mechanism for payment deferral linked to future events. For instance, a standard sales contract typically involves a straightforward transaction where terms are fixed at the outset, while a lease purchase agreement combines elements of leasing and purchasing but does not inherently allow for a later increase in purchase price related to specific events. A contingency agreement outlines conditions that must be met for a contract to be enforceable but does not provide a mechanism regarding deferred payment or options related to pricing in the same way as the option to buy contract does.